Thailand has made significant progress in reducing poverty, but still faces challenges as around 24 million citizens remain vulnerable to multidimensional poverty, according to a report from the Office of the National Economic and Social Development Council (NESDC).
- Despite reducing poverty rates by more than half, Thailand still faces a significant challenge with around 24 million citizens remaining vulnerable to multidimensional poverty.
- The most concerning group among the poor population are the 1.35 million citizens who face both financial difficulties and quality of life challenges, making their path out of poverty particularly arduous.
- Financial security has become the predominant factor affecting multidimensional poverty, with pension insecurity being the highest-ranked deprivation, and the report stresses the need for tailored regional approaches to address diverse challenges.
While the country has halved its multidimensional poverty rate since 2015, a closer look at the data reveals a more complex situation. Of the 7.17 million Thais classified as poor in 2023, about 4.78 million face multidimensional poverty without financial hardship, 1.04 million experience financial poverty exclusively, and 1.35 million contend with both financial difficulties and quality of life challenges.
The NESDC report also highlights that more than 24 million Thais are at risk of falling into multidimensional poverty, with financial security emerging as the predominant factor affecting multidimensional poverty. The report stresses that tailored regional approaches are required to address the diverse challenges faced by different regions.
The NESDC emphasizes the importance of fostering local economic development and enhancing access to quality education and healthcare services to mitigate these risks. Furthermore, the report calls for strengthened social safety nets and innovative financial inclusion strategies to provide vulnerable populations with greater stability and opportunities for upward mobility. Addressing these issues will require collaboration between government agencies, private sectors, and community organizations to ensure sustainable and equitable progress across all regions.
