Thailand's Household Debt Doubles

[george]

Household debt doubles

BANGKOK: -- Household debt has almost doubled since 2000, with spending focused on housing, land, and food and beverages.

The National Statistical Office's first-half survey of the target group of 26,000 households nationwide found that 62 per cent shouldered average debt of Bt133,293, an increase from Bt68,405 in 2000.

Households working in fishing, forestry and hunting make the lowest income in the country at Bt9,073 per month, compared to Bt48,833 for academics and managers.

Secretary-general Thananoot Treetipboot said yesterday that the survey found that the groups with the highest income also had high expenses and debt.

However, the main income source of those targeted groups were salaries, business income and farm crop sales. Their expenses were mainly for food, beverages, housing and household goods.

Almost 83 per cent of their debt was owed to financial institutions and the rest to loan sharks.

During the period from 2000-2009, per capita income has kept pace with expenses.

Monthly income increased from Bt12,150 in 2000 to Bt21,135 this year, while expenses also rose from Bt9,848 to Bt16,255.

-- The Nation 2009-10-06

[ilyushin]

Loan sharks !?!

Baht 20 on a 100 in most cases. Sure higher in others.

[aehia]

Loan sharks !?!

Baht 20 on a 100 in most cases. Sure higher in others.

Per month, enforced at gunpoint...

[theoldgit]

Monthly income increased from Bt12,150 in 2000 to Bt21,135 this year, while expenses also rose from Bt9,848 to Bt16,255.

-- The Nation 2009-10-06

So how do they arrive at the figure that an expat retiree needs an income of Bt65,000 per month to qualify to extend their stay here?

[bkkjames]

Monthly income increased from Bt12,150 in 2000 to Bt21,135 this year, while expenses also rose from Bt9,848 to Bt16,255.

-- The Nation 2009-10-06

So how do they arrive at the figure that an expat retiree needs an income of Bt65,000 per month to qualify to extend their stay here?

It sounds better than 21,135. Besides they know if you have 65k coming in, you are likely to spend most of it, whether you like it or not.

[webfact]

Loan sharks !?!

Baht 20 on a 100 in most cases. Sure higher in others.

Per month, enforced at gunpoint...

that happened in my neighborhood not long time ago. In a shop around the corner.