Thailand’s household debt burden rose sharply in early 2026, with a national survey showing 62.44% of people were in debt, up from 50.99% a year earlier. Rising living costs and stagnant incomes were identified as the main drivers, forcing many households to borrow simply to cover daily expenses.

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The findings were released by Thailand’s Trade Policy and Strategy Office based on data, following a February 2026 survey involving 6,469 people nationwide. The report described household debt as a growing warning sign for the Thai economy, with low-income workers facing the greatest financial pressure.

State employees, farmers and self-employed workers recorded the highest levels of debt, with formal debt rates of 89.09%, 82.71% and 80.28% respectively. State employees were found to have easier access to credit and commonly borrowed to purchase assets such as houses and cars, while farmers and self-employed workers relied more on loans to manage unstable incomes and business costs.

The survey also showed that high earners were not immune from debt. People earning more than THB50,000 per month had the highest proportion of borrowing, followed by those earning between THB10,001 and THB50,000, reflecting greater access to credit and investment borrowing.

Lower-income groups, especially those earning below THB20,000 a month, were more likely to borrow for essential daily expenses including food and transport. People earning less than THB10,000 faced the highest risk from unstable income and emergency borrowing, increasing the likelihood of long-term debt cycles.

Online borrowing emerged as a growing concern, particularly among younger people and students. Online loans accounted for 12.90% of debt sources overall, while 27.25% of people aged 20-29 and 31.55% of students reported using online loans, the highest rates among all groups.

Most borrowers reported monthly repayments of no more than THB5,000, accounting for 38.91% of respondents, while 34.59% paid up to THB10,000 per month. Despite appearing moderate, the repayments represented a heavy burden for low-income households already struggling with rising living costs.

Among workers earning no more than THB15,000 per month, 98% were found to be in debt. Average household debt in this group reached THB494,500, with average monthly repayments of around THB18,800, significantly higher relative to income levels.

More than 79.1% of workers surveyed said they had no savings or were unable to save money. Rising product prices, debt repayments, interest costs and higher social security contributions were all cited as factors reducing disposable income and worsening financial vulnerability.

Although 61.84% of respondents said they did not plan to take on more debt in 2026, many still expected to borrow to cover essential expenses, repay existing loans or support struggling businesses. Farmers and self-employed workers continued borrowing because of uncertain incomes, while salaried employees focused on borrowing for asset purchases.

The Nation reported that the report concluded that Thailand’s debt problem was structural rather than purely behavioural. It warned that unless incomes rise in line with living costs, household debt could become a long-term threat to economic stability.

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Adapted by ASEAN Now Nation 9 May 2026

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Debts means paying back, but not in Thailand, so the debts are rising, as many borrow from friends and family often with excessive interests. The economy will slow down, as people can't buy anything anymore, the people in debt as well as the people whk lend money, as they face no pay back. A result of the mismanagement for decades of the Government. Low salaries, no borrowing rules, but stimulate to spend to help the economy, keep face as poor is a shame, and although forbidden a 2 week lottery, where people hope to win a lot of money to get rid of their poorness.

A lot of money is wasted as there is only a chance of 2 out of 100 to win a bit

I am worried how long it can go on, but i am afraid it will collapse

Yet the baht is still ridiculously strong when the current economic factors are taken into account.

Still too easy to get loan and downpayment here, with as little as 5% down.

Many buy a phone or small motorcycle on downpayment, and are supposed to pay back 2,5x - 3x the amount.

Downpayment of 7 years are common on motorbike, cars, and mobile phones etc.

Few if any consider if they can afford the monthly payments the next 84 months.

Then the 'face thing' to be able to show to their friends their brand new top end phone, or motorcycle or car, with red number plates.

They need to learn in school, how to make a budget.

Obviously the problem is both structural and behavioural. People in some countries don't behave in regard to debt in the way Thais do. But changing the structural is almost harder than changing the behavioural, because the cultural and economic structure is based on a lingering de facto fudalism, which in turn is based on a deliberately mediocre educational system. Besides opening up the economy more, they need to prioritize education, but in the near term they won't because that might lead to people having threatening ideas.