Major changes projected in Thailand over next decade

BANGKOK: -- Thailand could see major changes over the next decade, particularly in household income levels, according to the latest research from Mastercard International.

The research, which comes today from Mastercard's Asia Pacific Office, shows that over the next 10 years, Thailand's population is set to grow by 0.42 percent, with the number of households rising from 17.58 million in 2003 to 20.12 million in 2013, in part due to a 67 percent reduction in average household size.

While 67 percent of the Thai population currently lives upcountry, by 2013, 40 percent of Thais are expected to be living in the capital.

At the same time, there will be a steep rise in the proportion of the population aged over 40, and conversely, a rapid decline in the proportion of the population aged 25 and below.

Nonetheless, educational levels will rise, and with that so will salaries.

With average annual economic growth of 4.5 percent for the next decade, household income is expected to shoot up from Bt160,000 to Bt250,000, with a commensurate rise in household expenditure.

--TNA 2005-03-22

Some nice, feel-good news. Not surprising MCOT jumped on it...

There is, of course, any number of holes in it, such as unpredictable events changing the "prediction." It's impossible to guess what unforeseen catastrophic occurence (and Thailand certainly seems to have more than it's fair share of them) can happen within the next 10 years. Not to mention inflation, stock market crashes, export snafu's, etc. etc.

Even with best case scenario.... if things DO go as Mastercard has predicted, still amounts to household, note this is not individual, incomes of just US$539 a month.