It is unclear who first defined the generational categories of humanity, or how long this classification has existed. However, grouping people into large generational cohorts is immensely beneficial for marketers and businesses, as it allows for easier study of the differing consumer behaviors by narrowing them down into more specific groups.

In the current era, as the world awkwardly transitions into the Digital Age or 4.0, many are still unable to clearly articulate what 4.0 actually means or when these eras were graded. In this age, there exists a demographic group that is the largest and will have a significant influence on the world:

Generation Y, referring to those born between 1980 and 1999, aged 18-37, making up 32% of the population. This is a larger proportion than other generations, including Baby Boomers (17%), Gen X (19%), and Gen Z (26%). Furthermore, Gen Y is a crucial demographic in the current labor market and is set to enter the workforce fully in the next 4-5 years. It is no surprise that the world is keenly interested in reaching the Gen Y demographic, as they remain the largest group and are growing at a higher rate than the subsequent Gen Z.

         In Thailand, as of 2016, the total population was 65,931,550, with the Gen Y at 18.7 million people, or approximately 28.54%. Following closely is Gen X at around 27%, and Gen Z at 22%. Other demographic groups are smaller and on a downward trend.

According to research by TerraBKK, which examined the proportion of Gen Y across provinces based on the 2016 population statistics, it was found that the proportion of Gen Y in most provinces is around 28-29% (in 38 provinces), which is close to the national average.

After gathering data on the proportion of the Gen Y population, interesting findings emerged: provinces with a Gen Y population exceeding 30%, considered a high proportion, are mostly located in the southern region, including Krabi, Trang, Narathiwat, Pattani, Yala, Songkhla and Satun. Aside from the southern provinces, only Ubon Ratchathani has a Gen Y population exceeding 30%. Major provinces like Bangkok, Khon Kaen, Nakhon Ratchasima or Chiang Mai have Gen Y populations around 26-28%.

Nevertheless, the Gen Y demographic is considered a Global Trend that is being prioritized worldwide due to their significance in entering the labor market fully in the near future, being the largest consumer spending group, and leading global consumption trends. Thailand, like other developing countries, has a significant proportion of Gen Y, making it essential to monitor the behaviors and movements of this demographic -- เทอร์ร่า บีเคเค

Article by: TerraBKK Investment Tips

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