Unveiling the apprehensions of the everyday Thai citizen, Ipsos (Thailand)’s managing director, Usana Chantarklum has shared some intriguing insights from the firm’s global consumer research conducted over the past year and three months. The study has, most importantly, revealed that inflation has emerged as the topmost concern agitating minds, not just in the Southeast Asian nation but all across the globe, with the United States being a prime example.
An in-depth look at Thailand offers captivating details. An extensive survey was carried out across six months, polling a broad cross-section of the Thai demographics that included 6000 people, all above the age of 18. The comprehensive study was able to pen down the main worries troubling the Thai populace over the last half-year:
- A whopping 40% of the respondents were stressed about their financial situation, extravagant spending habits, rampant corruption, and the political landscape, painting a picture of a population greatly affected by enduring issues.
- Social worries ranked second, with 39% of the population perceiving poverty and social inequality as their biggest worry.
- A sizeable number, 29%, found the looming threat of inflation disturbing, despite reassurances from the Bank of Thailand (BOT) regarding an inflation cap placed below 4%.
- A concern which resonated with 26% of those polled was unemployment. The fear of being replaced by hi-tech machinery such as artificial intelligence in their occupations was a significant cause of the anxiety.
- Criminality and violent acts came close on the heels with a 25% worry quotient. However, there are beliefs that stringent laws against culprits could curb this menace.
The survey also shed light on how concerns over equality and poverty have escalated parallel to the rise in inflation and living costs. Many attribute this escalating worry to the Russia-Ukraine crisis flaring up international tensions. One major letdown has been the projected number of tourists from China, whose actual arrival statistics fell short due to economic, societal, and political uncertainty.
Looking six months ahead, a remarkable 65% of Thai respondents envisaged a rise in public utilities’ costs, including gas, electricity, and water. This speculation exceeded the worldwide concern benchmark of 71%, with similar apprehensions about diesel, gasoline, and essential commodities like food.
Despite the looming worries, the survey jury wasn’t entirely clouded with gloom. A strong 64% were hopeful that situations would improve within the upcoming year. Among the optimists, many pinned their hopes on a new coalition government’s formation and consequent state budget allocation to rectify some existing economic snags.
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