Rising Middle Class Thailand and Expat Living

The quick developing human development progress of Thailand and other Asia-Pacific nations are driving a historic shift, with hundreds of millions of people being lifted from a state of poverty poised to join the fast-growing middle class.

Notwithstanding political uncertainty and its volatility, the country of Thailand has made great progress in social and economic issues. Because of this, Thailand has been one of the great development success stories.

In a report on the emerging middle classes of Asia, the ADB (Asian Development Bank) used a basic definition of people living on approximately US$2-20 per day as the determination of middle class status. For example a family of two parents and two children would equate to a family income of around 7,200-72,000 baht per month. This encompasses the great majority of urban, salary-owning Thai citizens. Those earning less than this tend to be more urban people in the informal, rural subsistence agricultural families, and migrant workers.

Thailand benefited from a long period of economic development from the late 1950s to the late 1990s which culminated in the economic boom in 1987-1995 and led to the emerging and expanding middle class. Sectors like finance, insurance, and real estate grew by 160 percent in 1989-1993. The second largest industry in Thailand, the tourist industry, also boomed and the number of foreign tourists traveling to Thailand which reached a record 7 million in 1995.

The boom produced enormous amounts of middle class jobs in manufacturing, finance,

insurance, real estate, services including legal, information ,accounting, translation and marketing also benefited. Also more jobs were created for hotels, restaurants, and the entertainment markets.

What does all this have to do with being a RIPper? Well, as the middle class grows so do their desires and demands. The rising middle class in Asia are emulating the needs of Westerners due to the media and advertising. Is that a good thing or a bad thing? Well here is my take on the rising middle class in Thailand.

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