A recent warning from Thailand’s National Economic and Social Development Council (NESDC) highlights growing financial vulnerability among Thai workers. Citing research conducted last year by Mahidol University, NESDC Secretary-General Danucha Pichayanan reported that over 50% of Thai workers have savings equivalent to less than six months of their income, putting them at heightened risk of falling into debt.
The research points to a pattern of discretionary and status-driven spending, particularly on luxury goods and premium services, as a key factor contributing to potential debt accumulation. One in three Thai consumers reportedly prioritize purchasing high-end items such as brand-name products, expensive concert tickets, and cosmetic procedures, often with the goal of enhancing social image or gaining peer recognition.
Gender-specific spending trends were also noted. Thai men, according to the study, show a greater inclination toward asserting social status through the purchase of electronics and branded merchandise. Meanwhile, women are more likely to spend on food, beauty products, skincare, and fashion-related items.
Despite the concern over spending habits, the overall growth in household debt has moderated. Last year, household debt stood at approximately 16.42 trillion baht, marking a modest increase of 0.2% year-on-year. The slowdown in debt growth has been largely attributed to more stringent lending practices by commercial banks over the past six quarters.
Mahidol University’s findings also revealed shifting consumption patterns. In the first quarter of 2025, alcohol consumption rose by 2% compared to the previous quarter, while cigarette smoking declined by 0.8%. Among Thailand’s estimated 20.3 million drinkers, beer remains the most consumed alcoholic beverage.
Provincial data indicates that Buri Ram, Ratchaburi, Tak, Ang Thong, and Uttaradit have the highest frequency of alcohol consumption, with around 12% of residents in these areas drinking alcohol three to four days per week.
As for tobacco use, approximately 9.77 million Thais smoked in the previous year. Alarmingly, the data shows the youngest smokers were just 15 years old, with an increasing trend toward even earlier initiation.
The NESDC’s announcement included findings from Mahidol University’s study. Secretary-General Danucha Pichayanan presented the report, which also touched on the influence of personal image and social pressures on consumer behavior.
