[heading]ThaiView Research Report found that Bangkok people are less confident about the Economy, and are increasingly concerned and unhappy with the political situation[/heading]
ThaiView Research Report found that Bangkok people are less confident about the Economy, and are increasingly concerned and unhappy with the political situation
“ThaiView”, a study completed regularly by the Thailand Market Research Society (TMRS), found in the second Quarter 2007 that Bangkok people are less confident regarding the Economy (down from 45% to 25% compared to 6 months ago). In addition to being worried about the Economic depression, they are worried about Unemployment and anticipate that the political & economic situations and crime levels will deteriorate within the next 1-2 years. It is perhaps therefore not surprising that the level of happiness has decreased from 91% to 85% during this period.
Miss Viriya Vorakitikun, President of Thailand Marketing Research Society said that “ThaiView conducted a survey of 500 people in Bangkok and the findings suggest that overall people are less happy and worry more about their lives. This has impacted their behaviour - the majority (79%) have started to cut unnecessary expenditures and many are also thinking more before buying (40%) and save more through banks (33%)”. In this trimester, the score on traveling and relaxation (which is usually high) has decreased. People are reducing recreational activities in community areas (such as watching movies, going to department stores), indicating that people are concerned more about their own safety.
Miss Viriya also commented that the number of people confident in the Economic situation has declined considerably, from 45% 6 months ago to 25% in this trimester. The lower SES have the least confidence, with only 18% of people in Group D and E having confidence in the Economic situation.
Moreover, the study found that Bangkok people increase their income by having a sideline job (14%), working in more than 1 place (7%), selling goods (8%) and having less sleep (23%). 18% of elderly people (50 years old up) and 19% of people in SES groups DE said that they are not happy with their quality of life at the present time.
ThaiView report also surveyed the attitudes of people in Bangkok towards retirement. The study found that 1 of 3 perceived that 60 years old is the usual age for retirement.
However, 46% of people aged 25-29 years expect to retire earlier (before 60). Many people of SES A plan to retire between 50-55 years (31%).
68% of people will not start to plan their retirement until they are 40. In fact, half of those over 40 year old have not yet planned their retirement. Their retirement plan generally consists of health protection (21%), income generation such as having their own business (18%), savings (18%) and insurance purchase (18%).
People feel that retirement is a time for relaxation (41%) and peace (28%) while people aged 25 – 29 feel that it is a time that they can do anything they want (such as having pets, exercising and traveling).
Overall, people in Bangkok feel less happy with their quality of life when compared to the last 6 months’ findings. They anticipate more economic fluctuations and thus are more careful about their expenditure.
“ThaiView” is a quarterly survey of 500 Bangkok residents, conducted by the Thailand Market Research Society. Its objective is to track changes and trends in the perception and satisfaction of Bangkok residents toward living standard, financial conditions, and Thailand’s social and economic situations.
The second Quarter of ThaiView interviewer people between 4-10 June 2007. All respondents were 18 years or older with minimum household income of 10,000 baht per month.
About Thailand Market Research Society
TMRS is a coalition of leading marketing research agencies in Thailand, relevant entities, and those interested in using research findings. TMRS is a center for marketing researchers to exchange opinions and research strategies, in order to raise the quality to international standards. For more information, please see www.tmrs.or.th