Thai household income and debt

Interesting income and debt statistics.

When I was working and buying a house my debt would have been much higher in relationship to my annual income. From these numbers it seems Thai's keep their debt levels quite low compared to Americans who own homes where they purchase them for little down and at several times annual income.

39.9% of households are debt free.

Average household debt over B134,000
Published: 2/06/2010 at 04:38 PM
Online news: Breakingnews

About 60 per cent of Thai households had debts averaging 134,699 baht last year -mostly in property loans, National Statistics Office director-general Jirawan Boonperm said on Wednesday.

Mrs Jirawan said the average monthly income per household was 20,903 baht nationwide.

She said 72 per cent of the income was wages and salaries while the other sources of income were from interest and welfare.

Each household spend an aveage 16,205 baht a month last year.

She said 34.2 per cent of household expenditure was on food and drinks, followed by accommodation and household items at 20.1 per cent. 17.71 per cent was on purchasing vehicles and travelling, while 12.1 per cent went on taxes, presents, insurance, interest payments and the lottery.

She said 60.9 per cent of households throughout the country had debts averagnig 134,699 baht each, and 67.7 per cent involved buying houses and land.

A total 82.4 per cent of households had debts inside the banking system. 9.7 per cent had debts both inside and outside the banking system, while the remaining 7.9 per cent had unconventional debts.

http://www.bangkokpost.com/breakingnews ... er-b134000

More BS!Point this,point that,making it sound like some accurate statistical data.This country is so corrupt with cash business unreported from backhands and street vendors,night and day markets,there is no basis for believing anything but bank reported debt.Just another bureaucrat passing along his paperwork obligations justifying his job description!

Imagine all the agencies and people that use this data to fulfill their goals and responsibilities!

I rather liked the 7.9% that have unconventional debts .Presumable with rather unconventional means of collecting them.

UdonExpat wrote:Interesting income and debt statistics.

Mrs Jirawan said the average monthly income per household was 20,903 baht nationwide.


Each household spend an aveage 16,205 baht a month last year.



http://www.bangkokpost.com/breakingnews ... er-b134000

You are joking.....
Is this the first of April??????
20.903 average monthly income??????

Or this is a joke or the income in Bangkok has to be incredibly high

just did a quick search
average monthly income in 2001 was 10.025 bath
http://web.nso.go.th/eng/en/stat/socio/soctab1.htm

http://www.unicef.org/infobycountry/Thailand_statistics.html

20k at a glance seems high - however , household income could mean 5000 from mum , 5000 from dad and 5000 from each of the 2 sons . or it could mean 20,000 straight from the sponsor , or any other permeatation etc etc .. i would imagine a better way to guage this statistic would be to see how many people , on average , actually live , in the same household .

i would imagine , Thai people probably have larger households than say England , because the children stay at home longer rather than leave and set up home on their own .

of course i,.m usually wrong so take no notice =)

Librarian

Here's a report from 2007. This report is more detailed and shows regional differences.

Household Income (2007)
The result of the 2007 survey showed that
household nationwide earned on average 18,660
baht per month.

http://web.nso.go.th/en/survey/house_seco/exec.pdf

households in Bangkok
Metropolis and the three provinces nearby, which
are Nonthaburi, Patum Thani, and Samut Prakan,
earned the highest average income of about
35,007 baht.

whereas
households in the Northeast earned the lowest of
about 12,995 baht

2007: Per Capita Income 5,494

Households earned the lowest
income were of agricultural operators on
fishery/forestry/hunting (9,185 baht).

conclusion: household income in Bangkok is 3x the household income from the Northeast !!!!!

while 12.1 per cent went on taxes, presents, insurance, interest payments and the lottery.

mmmmmmmmm I wonder what the % would have been if this catagory had been split up .....

Taxes 0.05%
Presents 20%
Insurance 0.05%
Interest payments 29.9%
Lottery (including Black lottery) 50%

Most americans over spent isn't the word for it.If they made $800 A week rhey would spend that and spend another $200 from A credit card.The average debt on A credit card per person is $9000.
Americans want everything yesterday.I was raised that if ya don't have the money don't buy it.Save up the money then buy it.
So now the average american has to pay higher taxes because of the avrtage american over spending.It's rediculous.And yes im from the us.Sometimes I hate to admit it.

stattointhailand wrote:Presents 20%

Presents.....is that another name for tea money?

Farang1 wrote

stattointhailand wrote:
Presents 20%

Presents.....is that another name for tea money?

Or perhaps it means married to a Farang1 or more.

If that is true WHY do they want a foreigner retiring here to have 800000 per year which transalates into 66,666,66 baht per month.

SORRY I DO NOT UNDERSTAND.

remember that all of these income figures are only averages.. In looking at my in-laws I see this

Brother-in-law at 78 years old: 500 baht a month gov't social security.
1500-3000 baht a month "suppaleu" doing body prep for funerals at the local Wat
1500 baht a month remittance from accountant daughter in BKK
1000 baht a month remittance from factory worker daughter in Rayong

Sister-in-law at 72 years old: 500 baht a month gov't social security

best month's income: perhaps 6500 baht, of which my sister-in-law spends quite a bit on the lottery.

brother-in-law purportedly stashes money away which the wife and kids have been hunting for years but haven't found.. Perhaps coffee jars buried somewhere...

monthly income supplemented by yearly rice crop from 17 rai of land which gives roughly 50-60,000 Baht profit which is shared with the son that works the father's land and other kids that help plant/harvest.

monthly total living expenses less the sister-in-laws lottery fixation probably are less than 2000 baht including village water, electrical (a big bill is 200 baht).

They have zero debt, own their 17 rai of farmland, their house plot, and their house. They have renovated their house within the last 6 years with an indoor thai style bathroom, and enclosed the underside of the house with stuccoed walls forming a large living area with nicely tiled floors. They have a fridge, fans, and a small color TV.. Compared to the one room cimb-up thatched roof hut they had the first time I met them in 1973, they're doing quite well.. Oh, aside from the sister-in-laws lottery fixation they have no significant vices and are not "drinkers" nor are any of the 8 children.

our contribution is dropping a thousand baht on them from time to time but it's not consistent.. The old folks live in the family house and none of the kids that live nearby (1 son, 2 daughters (4 grandkids) of 8 kids) live with them but come by and help clean the house or eat meals with their parents.

Some of the long term members may remember the UDICAD project a couple of years ago . Well the chairman quoted an income figure of 50 million baht per month from foreigners and a remittance from overseas workers running into billions .
This was just for Udon .I wonder where they fit in these latest statistics .?

thrilled wrote:Most americans over spent isn't the word for it.If they made $800 A week rhey would spend that and spend another $200 from A credit card.The average debt on A credit card per person is $9000.
Americans want everything yesterday.I was raised that if ya don't have the money don't buy it.Save up the money then buy it.
So now the average american has to pay higher taxes because of the avrtage american over spending.It's rediculous.And yes im from the us.Sometimes I hate to admit it.

The problem with saving to buy everything is that its hard to beat inflation.In America ,we buy our homes on credit and if we prudently plan,inflation more than pays for it,especially prior to the bubble burst with the mortgage derivative scandal.Other than house and car payments,I never incurred more debt than I had in savings or investments.I rarely ever paid interest on credit card purchases,as I use them for convenience,not credit!
I'm proud to be an American,extremely fortunate to be born an American at the time I was,although I don't agree with everything that our leaders have done,I surely agree on most!