RESEARCHERS

Duangjai Lorthanavanich, Thammasat University, Thailand
Narumol Nirathron, Thammasat University, Thailand
Noppadol Rompho, Thammasat University, Thailand
Surat Teerakapibal, Thammasat University, Thailand

Rapid population aging is now underway in Thailand. The Center of Excellence for Ageing Business and Care Development (ABCD) of Thammasat University was established to provide policy recommendations related to population aging and guidelines to both governmental and private sector. The ABCD center also aims to serve as a platform for research collaboration that can engage researchers working on aging societies through various approaches.

This project consists of the following four parts:

1. A study of the history and development of Thailand’s policies related to population aging, including a review of recommendations offered by previous studies on ways to resolve issues related to aging societies.
   Method: A literature review will be conducted on aging society in Thailand from 2008 to 2018 through a keyword search of various information sources (focusing on research, publications, reviews of commercial products and services for elders—targeting Thailand only). This data will then be synthesized and experts group discussions will be conducted to form cumulative ideas and policy recommendations.
2.  Policy recommendations will be developed related to elderly people in the informal employment sector, which accounts for roughly 55 percent of the overall Thai population.
   Method: Mixed methodologies will be applied, including both qualitative (interviews and use of case studies) and quantitative (field survey) research.
3. An analysis will be conducted of elderly consumption behavior.
   Method: Primary data will be collected to uncover determinants of financial-related choices and how age influences these decisions, and a compatible model will be suggested.
4. Researchers will report on market and innovation trends that will enhance the capacity of the elderly to maintain their active status in the market and continue making positive contributions to the economy.
   Method: Secondary data will be reviewed, such as company profiles from startup databases, government policies, and in-depth interviews with CEOs/founders of relevant startups in the health tech sector, mainly focusing on the aging population.

To carry out this project, the research team will organize a Multi-sectoral Advisory Board that consists of government officials and representatives from civil society and academia. They will be expected to advise the research team on the procedures for this project and the dissemination of the outcomes.

The deliverables of this project are to include the following:

1. Provide strategic recommendations on governmental and private sector management of population aging, including guidelines for cooperation on healthcare and long-term care for the elderly among the governmental sector, private sector, NGOs, international organizations, medical sector, and researchers.
2. Provide data on existing startups in the elder care business, as well as on  market and innovation trends related to the elderly, and contribute to the development of effective cooperation between the public and private sectors, which is required to create active aging societies.
3. Propose policies and/or policy modifications that encourage older people to make smarter financial choices.
4. Provide the government and membership-based organizations with the appropriate policy measures to prepare for the aging of informal workers.
5. Serve as a platform for a broader study on informal workers in Thailand and a study on how to help informal workers in ASEAN countries better prepare for aging.