Thailand, Lacking Babies, Will Become “Super Aged”
Posted on 04/13/2023
Thailand will become a super aged society by 2029 due to the decreasing numbers of babies and teenagers from 2020 to 2022, says Thai Kasikorn Research Center. That means more than 20% of the population will be age 65 and above. The number of babies in Thailand fell in 2020 and continued to fall to the present day. Meanwhile, other parts of the population died at increased rates. The birth rate in Thailand is 0.76% per year, and only 1.33% of people are teenagers, so fewer babies can be expected in the future. A million more Baby Boomers will turn 60 years of age in 2023, with those 60 and above having higher medical care costs and requiring more general assistance with day to day living than the population at large. Not only the pandemic, but financial concerns and lifestyle choices have impacted would-be parents.
The list of super aged countries includes: Japan, Italy, Finland, Portugal, and Greece. The U.S. has avoided the title with only 17% of its population over 65. Trends are worrying though. According to the Census Bureau, by 2034, or eleven years from now, there will be more senior citizens than children (77 million vs. 76.5 million). Some commentators have mentioned that immigration could impact the ratio, but that may not be the case anymore, says the Census Burea: “Higher fertility and more international migration have helped stave off an aging population and the country has remained younger as a result. But those trends are changing. Americans are having fewer children and the baby boom of the 1950s and 1960s has yet to be repeated. Fewer babies, coupled with longer life expectancy equals a country that ages faster.”
A new factor has impacted the longer life expectancy the Census Bureau referred to. Many mysterious deaths were reported in the U.S. in 2022 by the CEO of OneAmerica, Scott Davison. OneAmerica is a US$ 100 billion life insurer and retirement company. Davison said it was “the highest death rates we’ve ever seen in the history of this business.” Davison said death rates were up 40% for those 18-64 years old. Thailand had 15,000 more deaths in middle income people than usual, and the U.S. had 932,000.