Economy Thailand’s Wealth Gap Widens: Most Bank Accounts Below 50,000 Baht

[KireB]

8 hours ago, ozz1 said:

Yet they all drive around in new cars something's got to give 

Most Thais don't have a car.ai spits out these numbers:

275 per 1000 inhabitans, more than Vietnam and Indonesia, but far less than 1st world countries.

 

 

[khunPer]

To me, it seems like Thais are mainly talking about having their savings in gold – numerous Thais still don't trust banks – they often mentions several baht of gold...

[Hugh Jarse]

8 hours ago, Equatorial said:

 

Borrowed money. Money they don't have, and in many cases, won't be able to keep up with payments. 

 

That's the Thai way. 

Sounds comparable to the US,were most folks are in debt and live from paycheck to paycheck each month.

[ThaiBob]

Many Thais I know prefer gold over savings accounts, Thai bank savings rates are very low.

[wensiensheng]

10 hours ago, ozz1 said:

Yet they all drive around in new cars something's got to give 

Mostly bought on finance though and many get repossessed when payments aren’t maintained 

[Cameroni]

How nice would it be if you were a billionaire and you'd go to every person in Thailand and help them out, give them 10 million baht each. How happy they would be.

 

I don't understand why most of these billionaires don't do that.

 

It would only take 21,800,000 USD to give every Thai 10 million baht. Such a small price to make people happy.

[Grusa]

It has always been my ambition to die with my cards maxxed out, my overdrafts at their limits, and all other debts unpaid.

 

The problem is predicting the exact moment of death. A few days late, and everything caves in.

 

I know an American guy who planned his future on this basis, that he would die at 70. He is now 80+, senile with dementia, and living by grace of his Thai wifes' family in some s...hole in deepest Isaan with zero cash or assets, and completely cut off from his ex-friends.

 

Worst, no intellect left to work out a means of ending it all.............., or even the concept to do so.

[NoDisplayName]

13 hours ago, webfact said:

new figures from the Bank of Thailand reveal that 89% of bank deposit accounts in the kingdom hold less than 50,000 baht

 

Why would they keep their millions of baht in bank accounts paying 0.25% interest?

 

They've likely invested all their money in designer watches and down-payments on propulsion-free submarines.

 

For those incapable of making these strategic decisions, the government has assumed the responsibility in their best interest.

[KannikaP]

11 hours ago, thesetat said:

The average monthly debt repayment burden is around 16,742 baht per family. 

Quote say 'around' but quotes to nearest Baht. 555

[Airalee]

1 hour ago, Cameroni said:

 

It would only take 21,800,000 USD to give every Thai 10 million baht. Such a small price to make people happy.

$21,800,000 is about 720 million baht.   
 

720 million baht divided by a population of close to 72 million people = 10 baht per person.

[KannikaP]

4 minutes ago, Airalee said:

$21,800,000 is about 720 million baht.   
 

720 million baht divided by a population of close to 72 million people = 10 baht per person.

Do maths again. Add three zeros to 720M Bht.

[FruitPudding]

Most are cash poor, but have a fair bit in land.

[KannikaP]

9 hours ago, MalcolmB said:

It is a big reason I am here.

i can afford a maid to come daily, a pool guy, a lover for all night and eat out three times a day and to the pub most days.

I could not afford that in the UK. Life is fantastic here, but wouldn’t be if the Thais were expensive.

Yes MB, take advantage of them.

[Airalee]

2 minutes ago, KannikaP said:

Do maths again. Add three zeros to 720M Bht.

Math appears to be difficult for you.

 

 

[edwinchester]

1 hour ago, Cameroni said:

How nice would it be if you were a billionaire and you'd go to every person in Thailand and help them out, give them 10 million baht each. How happy they would be.

 

I don't understand why most of these billionaires don't do that.

 

It would only take 21,800,000 USD to give every Thai 10 million baht. Such a small price to make people happy.

You need to brush up on your maths skills.... you'd need over $20,000,000,000,000 to give each Thai 10 million baht

[KannikaP]

OK, maths is going wrong. How much USD to give 70 million Thais Bht 10,000 each

[KannikaP]

9 hours ago, StayinThailand2much said:

 

Good luck ever repaying that debt, at a rate of, say, 3,000 baht a month... 😆 

202.126 months = 16.8433333 years.   5555

[Airalee]

21 minutes ago, KannikaP said:

OK, maths is going wrong. How much USD to give 70 million Thais Bht 10,000 each

Your “add 3 zeros” is the correct answer.

 

$21,800,000,000

 

I always laugh when people say “take the money from the rich and redistribute it to the poor.

 

But….the net worth of the rich isn’t liquid as it’s mostly stocks, property etc…not cash.   
 

If you could take all the money from the billionaires in Thailand, each Thai would get about $1000.

 

Now those billionaires have nothing.  A leftists wet dream.  But they also closed all their businesses.   How many jobs were lost?

[ikke1959]

10 hours ago, Gottfrid said:

I agree with everything in your post, except this. Anymore? When the heck did Thai people have a descent salary?

With anymore is that the inflation and prices are skyrocketing at the moment. The Government with the manipulation of the THB has made everything much more expensive and also by deals of the Thai rich owned companies who sell to higher prices to other countries so that the netizens have to pay more as there is a shortage of several articles.. Just simple things as eggs, palm oil, sugar, coffee and other items.. Several years back they could probably make ends meet, but nowadays it is impossible anymore, while the rich push for more holidays, more spendings, and refuse to  small salary raise .... 

[black tabby12345]

informal workers

 

over 50% of Thai workers are said to be in that category.

 

informal employment in thailand examples - Google Search

[black tabby12345]

12 hours ago, blaze master said:

I got a fabulous idea. Why doesn't the government transfer 10k baht to those accounts. 

 

You heard it here first folks. 

 

Now they(Pheu Thai) cancelled their giveaway scheme they were talking about weeks ago.

They say it is because of Trump Tariff.

 

 

[Celsius]

I wouldn't call this news worrying.

 

 

Every thai woman i was with had 12 bank accounts. 50k here, 200k there, and then the savings account with a few million.

 

Fake news

[Nick Carter icp]

8 minutes ago, Celsius said:

I wouldn't call this news worrying.

 

 

Every thai woman i was with had 12 bank accounts. 50k here, 200k there, and then the savings account with a few million.

 

Fake news

 

   The Infor form the Bank of Thailand and all their tens of millions  customers against the info from  the Woman who you've banged . 

   The BoT figures are more reliable 

[MalcolmB]

2 hours ago, KannikaP said:

Yes MB, take advantage of them.

Marrying a sex worker is not taking advantage?

[StayinThailand2much]

2 hours ago, KannikaP said:

202.126 months = 16.8433333 years.   5555

 

Probably not including interest... 😉 

[Gottfrid]

3 hours ago, ikke1959 said:

Several years back they could probably make ends meet

So, now we come to that point. You turn as the wind blows, and then you are naming that descent salary. Ok, that stands for you.

[StayinThailand2much]

3 hours ago, black tabby12345 said:

 

Now they(Pheu Thai) cancelled their giveaway scheme they were talking about weeks ago.

They say it is because of Trump Tariff.

 

They had to blame it on someone who is not Thai...

[spidermike007]

While prices here have continued to rise, salaries have not, and it must be incredibly hard to get by on what the average Thai person earns. The economy is in trouble it's been that way for many years after the Prayuth decimation, and the erasure of a promising future for the nation, caused by a decade of highly toxic 

army destruction. 

[Celsius]

12 minutes ago, spidermike007 said:

While prices here have continued to rise, salaries have not, and it must be incredibly hard to get by on what the average Thai person earns. The economy is in trouble it's been that way for many years after the Prayuth decimation, and the erasure of a promising future for the nation, caused by a decade of highly toxic 

army destruction. 

 

So prayuth was good decent chap, right?

[hotandsticky]

12 minutes ago, Celsius said:

 

So Prayuth was good decent chap, right?

 

 

He is looking better by the day.....