May 1 of every year falls on National Labor Day. Over the past 10 years, Thailand has had an increase of 52% in the number of elderly workers. The northern region has the most elderly residents. Interestingly, post-retirement workers’ income has decreased by 55%, resulting in insufficient income to cover expenses. Having to bear the burden of accumulated high debt There is still no long-term solution. Data from the Bank of Thailand indicate that over the past 10 years, the number of elderly workers in Thailand has continued to increase. In 2023, there were 5.1 million people, an increase of more than 52% compared to 2013, which had 3 million. .3 million people when considering the proportion of elderly workers. It was found that the northern region had the highest proportion of elderly workers at 18.8%, followed by the northeastern region at 17.1%, the southern region at 12.1%, and the central region at 8.5%. Compared to 2023, there were a number of elderly workers in the northern region. 1.2 million people, an increase of more than 58% from 0.7 million people in 2013. If comparing the most elderly workers by province, there are Chiang Mai with 190,000 people, Chiang Rai with 120,000 people, and Phitsanulok with 100,000 people, while The income of workers after retirement has decreased by 55%, such as in 2023, from an income of 17,984 baht to 9,806 baht, creating a chance that the income will not be sufficient to cover expenses and debt burden. It is more clearly seen after COVID-19. The bad debt of the elderly has increased more than any other age group. Most of the occupations of the elderly workers are in the agricultural sector. The average income is only 5,513 baht per month and there is a high proportion of 62% of all elderly workers. Most of them, more than 72%, do not have enough income to repay debt. together with measures to help by extending the contract periods of financial institutions in the past As a result, the accumulated debt burden will carry over into retirement.
