A major shift in Thailand’s national policy seeks to harness the spending power and skills of its rapidly ageing population, with projections showing the Silver Economy is set for massive growth over the next decade.
The National Health Commission Office (NHCO) and the National Economic and Social Development Council (NESDC) recently hosted a national forum to push the policy proposal, “Creating Opportunity for the Silver Economy,” which is slated for the agenda of the 18th National Health Assembly in November 2025.
The core policy aims to redefine senior citizens, moving them from a vulnerable demographic to a key economic driving force, both as consumers and as active workers or entrepreneurs.
Worawan Plikhamin, Deputy Secretary-General of the NESDC, noted that within a decade (by 2033), seniors are forecast to make up 28%, or one in three, of Thailand’s entire population.
The opportunity lies in their spending power: senior consumption expenditure is expected to jump from 2.18 trillion baht in 2023 to 3.5 trillion baht by 2033.
This massive market growth is set to spur new business opportunities for Thai entrepreneurs, including:
Elderly care centres
Universal Design architecture and construction
Health and technology innovations
Caregiver businesses and insurance services