Dr. Supavutti, chair of Thailand's National Economic and Social Development Council, argues that a "Longevity Economy" is a critical strategic necessity for Thailand. With rapid aging—elderly population growing from 5.7M (2000) to 14.5M today and projected to reach 20M within 15 years—the working-to-elderly ratio will shrink to just 1.8:1 by 2050. Health expenditure already grows 5–6% annually, outpacing GDP growth (~2%). Healthcare-linked tourism and wellness sectors now represent ~18–23% of GDP (pre-COVID), dwarfing traditional manufacturing. This represents a major pivot: rather than chasing industrial competitiveness with China, Thailand should scale health tourism and wellness services as the new economic driver, with the global wellness market growing at 6.2% annually—triple Thailand's current GDP growth.
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