Thailand’s expenditure on senior citizens is projected to rise from 2.18 trillion baht in 2023 to 3.5 trillion baht by 2033. This significant growth is part of a new national policy aimed at repositioning seniors from a vulnerable demographic to a vital economic force, as they are expected to comprise 28% of the population by 2033.
The policy focuses on leveraging the economic influence of Thailand’s aging population by encouraging them as both high-spending consumers and active contributors, such as workers and entrepreneurs. To facilitate this shift, the government is promoting initiatives like re-skilling programs, job-matching platforms, and new occupational opportunities tailored for seniors.
A major change in Thailand’s national strategy seeks to capitalize on the spending power and skills of its rapidly aging society. The National Health Commission Office (NHCO) and the National Economic and Social Development Council (NESDC) recently organized a national forum to support the “Creating Opportunity for the Silver Economy” policy, which is scheduled for discussion at the 18th National Health Assembly in November 2025.
The core aim is to redefine senior citizens as economic contributors rather than just vulnerable groups. Worawan Plikhamin, Deputy Secretary-General of the NESDC, highlighted that by 2033, seniors will make up about one in three of Thailand’s population.
This demographic shift presents vast opportunities: senior consumption is expected to increase substantially, fueling new business sectors such as elderly care centers, universal design architecture, health and tech innovations, caregiver services, and insurance programs.