The Study of Impact on the Transportation Service Businesses as The Result of Demographic Changes in Thailand

Abstract

Demographic changes in Thailand will create new challenges for service providers in transportation such as expressway and metro etc. In the next 10 years, the Thai economic structure will change dramatically. This is due to the population structure that more than 40% of Thais will enter retirement and prepare to retire. This results in a significant slowdown in consumption. The domestic economy cannot grow as much as in the past. It is also expected that there will be a labor shortage. This will only aggravate Thailand from attracting investment. Traditional businesses that used to drive the Thai economy will not be able to expand. Moreover, the aging society will put pressure on inflation and interest rates low and the baht appreciation. This will also create challenges and limitations to monetary and fiscal policy. This paper will study and gather knowledge that can be used in determining the strategy of transportation service businesses to be able to adapt to the challenges that arise by finding business opportunities in line with the demographic structure of the future, both organizations must focus on developing skills, labor, and technology to compensate for the lost labor and to see what major challenges will Thailand face in the next 10 years? What will the Thai economic structure look like? In what direction will the transportation service businesses grow? What will be the force and Driven? to be the starting point for education and construct knowledge based on facts for leading to suggestions on how to prepare for transportation service businesses.