According to the United Nations (UN), a country is considered to have entered an Aging Society when the population aged 60 and over exceeds 10% of the total population. However, it is not until this proportion reaches 20% that the country is regarded as fully entering an Aged Society.

          Looking back at Thailand, which has been discussing the aging society for several years, it was noted that the country began its transition to an Aging Society in 2015. It is projected that by 2021, Thailand will fully enter an aging population phase, with those over 60 years old exceeding 20% of the total population. By 2036, the elderly population is expected to rise to 30%, or one in three of the total population.

          At the “NextGen Aging – Shaping A Smart Future for an Aging Society Conference”, held for the first time by the Kenan Institute of Asia and its partners, the future of Thailand's aging society was discussed through business visions and social innovations from renowned international experts. Dr. Noel P. Greis, Director of the Center for Digital Enterprise and Innovation at UNC's Kenan Flagler Business School, shared intriguing insights about the global aging situation, noting that the transition to an Aging Society in Asian countries is particularly interesting. Alongside major powers like China, Thailand stands out as the first developing country in the world to fully enter an aging society.

          “The first impact of entering an Aging Society is economic, as the proportion of the workforce decreases, leading to a contraction in the country's GDP. Even with robots or machines replacing the lost labor, it will still not be sufficient,” he stated.

The question is, are Thailand and many other countries around the world facing an aging society ready?

          Dr. Noel P. Greis answered this question with research from AAPR&FP Analytics, which selected 12 countries divided into three groups: those that have not adapted to the aging society, those that have made various adjustments and are leading in addressing the elderly, and those that are adapting while transitioning into an aging society. These were compared across four areas: social infrastructure for the elderly, opportunities for productivity, access to technology, and health and well-being.

          “Many might think that developed countries would manage these four areas well, but this is not the case. Only Japan has successfully addressed all four areas, followed by Germany, which has managed three. Brazil, Canada, Israel, South Korea, the UK, and the US have only managed one area each, while Turkey, South Africa, Mexico, China, and Brazil have not managed any. Interestingly, while some countries have begun to adapt in certain areas, the most critical aspect—health and well-being—has yet to be successfully addressed by any country except Japan,” he noted.

          Nevertheless, Dr. Noel P. Greis acknowledged that amidst the challenges of adapting to an aging society, there are also business opportunities known as the Silver Economy, particularly in emerging market countries.

          “China is a prime example of a country that is alert to this market. For instance, Alibaba, a giant in Chinese e-commerce, has launched a new application aimed at the elderly, making it easier for them to access products and services. The app is designed to be user-friendly, with larger font sizes, making online shopping enjoyable and accessible for seniors. This also fosters family interaction, as younger generations teach technology to their grandparents or parents, as this demographic prefers to learn from close relatives rather than outsiders,” he explained.

          This is just a glimpse of the reflections that illustrate the situation of the elderly worldwide. It is time for all sectors of Thai society, which are in the final stretch before fully entering an aging society, to accelerate efforts to find ways to prepare for a future that is livable for all elderly individuals.