Suphawut Urges Transition to Thailand's Longevity Economy

Khaosod•Economy•2d ago

Reader Briefing

Suphawut Saichue advocates for a shift toward a Longevity Economy to counter the economic impact of Thailand's rapidly aging population.

•Suphawut Saichue spoke at the Matichon Exclusive Meeting: New Tourism New Economy seminar held at The Crystal Box, Gaysorn Tower.
•Thailand's elderly population increased from 5.7 million in 2000 to over 14.5 million currently.
•The Wellness Economy accounts for approximately 42,700 million USD, or 7.6% of GDP.
•Suphawut Saichue proposed four guidelines to establish Thailand as a Wellness and Longevity Hub.

Overview

•Thailand's elderly population rose from 5.7 million in 2000 to over 14.5 million currently and is projected to reach 20 million in the next 15 years.
•The ratio of workers to elderly people decreased from over 7 people per elderly person to approximately 3.5 people currently, and may drop to 1.8 people by 2050.
•Suphawut Saichue warned that if Thais maintain poor health, the state will face increasing costs as the National Health Security budget increases by 6% and civil servant medical welfare increases by over 5% annually.
•Suphawut Saichue stated the old economic model relying on manufacturing can no longer be the main driver due to intensifying competition from foreign countries, particularly China.
•Suphawut Saichue identified the service sector, tourism, and medical businesses as the new economic engines linked to the Longevity Economy.
•Suphawut Saichue proposed shifting the role of government agencies from regulators to facilitators to promote health businesses, herbs, and traditional Thai medicine.
•Suphawut Saichue noted that the promotion of Wellness Tourism and Medical Tourism lacks integration between government agencies and requires a central lead agency.
•Suphawut Saichue mentioned that non-performing loans (NPLs) for SMEs are currently at approximately 11%, causing banks to be cautious with lending.

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Key Quotes

Suphawut Saichue

"Thailand's new economic engine is the service sector, especially tourism, medicine, and health businesses, which are directly linked to the Longevity Economy."

เครื่องยนต์เศรษฐกิจตัวใหม่ของไทย คือภาคบริการ โดยเฉพาะการท่องเที่ยว การแพทย์ และธุรกิจสุขภาพ ซึ่งเชื่อมโยงโดยตรงกับ Longevity Economy

Key Entities

Person

Suphawut Saichue(ศุภวุฒิ สายเชื้อ)

President of the National Economic and Social Development Council.

Organization

National Economic and Social Development Council(สภาพัฒนาการเศรษฐกิจและสังคมแห่งชาติ)

The organization presided over by Suphawut Saichue.

Matichon Group(เครือมติชน)

The organizer of the Matichon Exclusive Meeting seminar.

Place

The Crystal Box, Gaysorn Tower(The Crystal Box อาคารเกษรทาวเวอร์)

The venue where the Matichon Exclusive Meeting seminar took place.