泰国中产阶级为何负债累累？ | 亚洲中产阶级的变化 | 洞察
How Did Thailand's Middle Class Get So Deep In Debt? | Asia's Changing Middle Class | Insight
译文简介
曾被标榜为亚洲快速增长引擎的中产阶级，如今正面临发展困境。在泰国，家庭债务正挤压着中产阶级的生存空间。泰国家庭债务占GDP的比重在2021年达到了95%的峰值，目前仍维持在90%左右的高位，位居亚洲前列。约七成借款人偿还能力有限，违约率持续高企。
正文翻译
泰国中产阶级为何负债累累？ | 亚洲中产阶级的变化 | 洞察
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Once touted as the engine of Asia's rapid growth, Asia's middle class is now facing growing pains. In Thailand, household debt is squeezing the middle class. The household-debt-to-GDP ratio peaked above 95% in 2021. It currently hovers around 90%, still among Asia's highest.
About 7 in 10 borrowers have limited ability to service their loans, as delinquency rates remain high. With Thailand's GDP growth already lagging its Southeast Asian counterparts, the central bank worries that the debt crisis will continue to drag on the economy. How did middle class Thais become so indebted? And will the recent government measures to ease the debt burden prove effective?
曾被标榜为亚洲快速增长引擎的中产阶级，如今正面临发展困境。在泰国，家庭债务正挤压着中产阶级的生存空间。泰国家庭债务占GDP的比重在2021年达到了95%的峰值，目前仍维持在90%左右的高位，位居亚洲前列。约七成借款人偿还能力有限，违约率持续高企。在泰国的GDP增速已经落后于东南亚邻国的情况下，央行担忧债务危机会持续拖累经济发展。泰国的中产阶级是如何陷入如此深重的债务危机的？政府近期推出的减轻债务负担措施能否奏效？
My parents once told me "if you cant afford it dont buy". People now buys so many WANTS, then later on cry that they are poor. Social media is a big influence on this habit
我的父母曾教导我"买不起就别买"。如今人们总是购买各种想要的非必需品，之后又哭穷。社交媒体对这种消费习惯影响很大。
原创翻译：龙腾网 https://www.ltaaa.cn 转载请注明出处
It's baffling to see people spending money on 20 pieces of clothes a month and then complaining that their monthly salary isn't enough for living.
Not enough salary to buy groceries is different from not enough salary to feed your consumerism.
看到有人每月买20件衣服还抱怨工资不够生活，实在令人费解。工资不够买日用品和工资不够满足消费欲望是两回事。
as a foreigner with a Thai family of my partner i see my brother in law showing his new Iphone and restaurant eating habits off on Facebook weekly ...drinking heavily and always seen to be doing well on social media...in reality he lives with his brother and sleeps on the floor because hes in debt to multiple loan sharks... earns less than he owes and is constantly begging for money....but will he slow down his lifestyle? no because that wont look good to his friends or social media ...it saddens me to see how his generation live. i was always taught if you dont have it dont spend it .
作为一位有泰国伴侣的外国人，我亲眼目睹妻弟每周在脸书上炫耀新的iPhone和高档餐厅消费...在社交媒体上他总是光鲜亮丽，而实际上他因欠多家高利贷的钱，只能睡在哥哥家的地板上...他的收入还不够偿还债务，却不断借钱...但他会放慢这种生活方式吗？不会，因为这在朋友和社交媒体上不好看...看到他们这代人的生活方式让我很痛心，因为我一直被教导"没有钱就不要花"。
One of the things that always baffled me in Chiang Mai was the number of brand new relatively expensive, sometimes very expensive, cars and trucks on the roads. There's so much emphasis on show-off spending, a vehicle has to be brand new and flashy, have all the fancy features etc. This results in situations where an office worker with a 45,000, buys a brand new crossover with a 1.5m THB price tag, or a similarly overpriced giant 4x4 truck he can't even park anywhere. It's not for the lack of options, there are plenty lightly used second-hand cars that make a lot more sense... Anyway, recently I started seeing more and more "free car" ads, from people who bought or leased them stupidly, found they can't go on paying 10,0000-20,000 THB of monthly payments, and are looking for someone to take over the contract.
在清迈最让我困惑的是路上有那么多崭新的、相对昂贵甚至非常昂贵的汽车和卡车。炫耀性的消费如此盛行，汽车必须是崭新的、炫酷的，配备所有花哨的功能...这导致月薪45000泰铢的上班族购买150万泰铢的全新跨界车，或是同样价格虚高、连停车位都找不到的大型四驱皮卡。这不是因为缺乏选择，明明有很多更实惠的二手车可选...最近我看到越来越多"免费送车"的广告，都是那些冲动购车或租车后发现无力继续支付每月1-2万泰铢分期付款的人，想要找人接手合同。
No middle-class Thais can afford sending kids to an international school. The guy from National Credit Bureau couldn't be more wrong about the definition of middle class.
没有泰国中产阶级能负担得起送孩子上国际学校，国家信用局的那位对中产阶级的定义大错特错。
I live and work in Thailand (I own two companies) and I can say that a large part of Thais lives beyond their means. Consumerism, social media addiction and the fear of "loosing face" contribute to this unhealthy cycle of debit especially among the younger generations
我在泰国生活工作(拥有两家公司)，我可以说大部分泰国人过着入不敷出的生活。消费主义、社交媒体成瘾和"丢面子"的恐惧，特别是年轻一代，助长了这种不健康的负债循环。
Numerous Thais who make less than 20000 baht/month have the latest iphone.
You take responsibility of how you spend your money.
很多月收入不足2万泰铢的泰国人用着最新款的iPhone。
你要为自己的消费方式负责。
I am so thankful to my Cambodian mom. She always taught me at the very young age the golden rule "don't live your life and spend money beyond your means", another words, don't spend money that you don't have. She taught me to work hard and save as much as I possibly can. Thanks to her, I have never been in debt all my life and be able to save enough for my future retirement. She taught me that it's ok to have less in life ,but it's not ok to have more with debt.
我非常感激我的柬埔寨母亲，她从小就教导我"量入为出"的黄金法则，换句话说，不要花你没有的钱。她教导我努力工作，尽可能多地储蓄。多亏了她，我一生从未负债，还能为退休储蓄足够的钱。她教导我生活中少一点没关系，但靠负债来装阔绝不可取。
Most Thai are Buddhists. However, it is contradictory to Buddhists' values, as they crave materistic conditions, maintaining social status is paramount to most middle class Thais as losing face would not be a,consideration
This leads to the current high debt levels, basically living g beyond there means
They lack the discipline and financial accum to address this as the wants desires cravings contuine
This is my observation as a foreigner living here in the kingdom
大多数泰国人信奉佛教，但这与佛教价值观相矛盾，因为他们渴望物质条件。对大多数泰国中产来说维持社会地位至关重要，绝不能丢面子。
这导致了目前的高负债水平，他们基本上是入不敷出。
他们缺乏解决这个问题的纪律和财务智慧，因为欲望和渴求仍在继续。
这是我作为在泰国生活的外国人的观察。
One Simple Aspect - Thailand is counting far too much on tourism which produces low paying jobs while feeding into the wealthy business owners, landlords and developers. Meanwhile they are ruining Thai culture and lifestyle through overcrowding and over development. In places like Phuket, traffic is crazy and the infrastructure can't support the rapid development. Thailand should focus more on attracting light industry and tech development and prioritizing better education.
一个简单的原因 - 泰国过度依赖旅游业，这只能创造低收入的工作，同时养肥了富有的企业主、房东和开发商。同时，过度拥挤和过度开发正在破坏泰国的文化和生活方式。在普吉岛等地，交通混乱，基础设施无法支撑快速发展。泰国应该更注重吸引轻工业和技术发展，优先发展更好的教育。
You left out the part where the younger generation's choice for an elected government was dismissed—twice. That kind of betrayal doesn't just disappear; it fuels apathy, making people more reluctant to invest in their own future.
你们漏掉了年轻一代两次民选政府被推翻的部分，这种背叛不会消失，它助长了冷漠，让人们更不愿意为自己的未来投资。
Here in the US, there's a old saying, "Keeping up with the Joneses." - Living beyond your means just for status. This problem isn't only in the middle class, it's also a big problem in the upper class. Back in the 90's, a guy once told me about a book he read, "The millionaire next door." He said that 80% of the wealthy people (Doctors, Lawyers, Business Owners, etc.) that live in upscale neighborhoods, live paycheck to paycheck and live beyond their means, just to have status or look like they have status.
在美国有句老话，"跟邻居攀比" - 为了面子而过着入不敷出的生活。这个问题不仅存在于中产阶级，上层阶级也很严重。上世纪90年代有人告诉我他读过《邻家的百万富翁》这本书，他说80%住在高档社区的富人(医生、律师、企业主等)都是月光族，过着入不敷出的生活，就为了面子或看起来有面子。
People has forgotten that interest has been too low before covid. It thought to be the norm to have interest rate closer to zero. However the real thing is that around 3% should have been a proper and healthier interest rate.
人们忘记了疫情前利率太低，接近零利率被认为很正常，但实际上3%左右才是更合理健康的利率。
原创翻译：龙腾网 https://www.ltaaa.cn 转载请注明出处
I am a Thai woman, and I am frugal with my savings. I don't spend much, so people often see me as poor. No one wants to associate with someone who is poor, but many people ask to borrow money from me. Those people have social circles and many friends, and they appear to be much better off than I am.
我是一个节俭的泰国女性，平时不怎么花钱，所以人们常常认为我很穷。没人愿意和穷人交往，但很多人找我借钱。那些人社交圈广朋友多，看起来比我富裕得多。
As a foreigner whose been in Thailand for 15 years, married to a Thai for over 10 of it and having Thai family, it appears from my POV many under 50 live way beyond their means. They have to have the biggest TV, a new car and house (no way to secondhand for them), the designer clothes, perfumes , etc. Loans and credit cards are easy to get and being what seems impulse buyers, it does not take long for the credit cards and loans to be maxed out. Finally, many are compulsive gamblers, both underground gambling and the national lottery.
作为在泰国生活了15年、与泰国人结婚10多年的外国人，在我看来许多50岁以下的泰国人过着严重的入不敷出的生活。他们必须拥有最大的电视、新车新房(绝不考虑二手货)、名牌服装香水等。贷款和信用卡很容易获得，加上他们似乎是冲动型消费者，信用卡和贷款很快就会被刷爆。最后，很多人还是强迫性赌徒，他们既参与地下赌博也买国家彩票。
I'm a Thai person living overseas. Cultural aspects also play a huge part in how many Thais are in debt. I'll be honest, Thai people work really hard but the keeping face and keeping appearances and keeping up with the Joneses drive people to live beyond their means.
我是旅居海外的泰国人，文化因素也是许多泰国人负债的重要原因。说实话，泰国人工作很努力，但爱面子、讲排场和互相攀比的心理驱使人们过着入不敷出的生活。
I know a 'Thai 40 year old with unpaid student(!) and car loans, yet with always the newest Iphone and apple watch. Also many trips to the pawnshop.
The example should come from the top but see how the top behaves over there.
我认识一个40岁的泰国人，他还有未还的学生贷款和车贷，却总是用着最新款的iPhone和Apple Watch，他还经常去当铺。
上行下效，但看看那些上层人士的行为就知道了。
Stayed in Thailand for 3 years back in 2015, take a walk in shopping malls you will understand why they are in debts. many stores are offering installment payments for shopping, eg 3000thb/12 month repayment...
I've see people taking loans to buy house furniture, buying brand new iPhones, travel overseas...
Even my wife (thai) said a lot of thais were taking personal loans to spend on ridiculous things/experience to stay "relevant".
To me if you need to pay by installments or take loans to travel/shop, I suggest you stay home.
2015年我曾在泰国生活过3年，去商场逛逛你就会明白他们为什么负债了。很多商店提供分期付款购物，比如3000泰铢分12期还款...
我见过人们贷款买家俱、买最新款的iPhone、出国旅游...
我的泰国妻子也说很多泰国人为了保持"存在感"而贷款购买各种荒唐的东西或体验。
在我看来，如果需要分期付款或贷款去旅游购物，那你最好呆在家里。
The problem of Thailand is economic monopoly. The distribution of wealth to the regions is not enough. Most of the budget is concentrated in the capital. The transportation system does not cover the whole country. Electric trains are only available in the capital. Almost all public companies are located in the capital. The monopoly of concessions has caused people to have fewer jobs and less income.
泰国的问题是经济垄断，财富在地区间的分配不均，大部分预算集中在首都，交通系统没有覆盖全国，电气化火车只在首都运行，几乎所有上市公司都位于首都，特许经营权的垄断导致人们工作机会减少、收入降低。
It's pure greed. They live in a middle income country but want a brand new car, holidays to Japan and Europe etc when they earn about $1000US per month. Meanwhile, they lack the education to financially plan beyond the end of their nose.
这就是纯粹的贪婪。他们生活在一个中等收入国家，月收入只有1000美元左右，却想要崭新的汽车、去日本和欧洲度假。同时，他们缺乏长远的财务规划教育。
In Vietnam, we have two concepts: dead money and dead gold. Because Vietnam is located in a sensitive geographical location, it often has to endure natural disasters and floods, so people live very frugally. This habit is passed down from generation to generation. Dead money means the money that Vietnamese people deposit in banks but just stays there because peopple do not use it to invest to make a profit. According to statistics from the State Bank of Vietnam, as of September 2024, the amount of money that Vietnamese people deposit in banks is nearly 700 billion dollars. Dead gold means that people buy gold to store in their homes year after year but do not use it and only keep it in safes. According to the State Bank of Vietnam, this amount of gold is about 500 tons of gold, while the World Bank predicts that it is nearly 1,000 tons of gold.
The Vietnamese government regularly meets to propose measures to stimulate people to invest in business by taking advantage of this money and gold. But the habit of saving has been ingrained in the blood of Vietnamese people from generation to generation, so it cannot be changed. According to statistics from the State Bank of Vietnam, every day people across the country save about 350 million dollars in banks. As of September 2024, the amount of money in banks is nearly 700 billion dollars and this number continues to increase rapidly. It is expected that in about 10 years it will exceed 1,000 billion dollars. I am very afraid that another Truong My Lan - the one who embezzled nearly 40 billion dollars will appear.
In Vietnam, no one uses cash to buy a house, a car or travel. I remember I bought a $35 dress for my mother and she said it was expensive and told me to buy it in my hometown next time because it is cheaper.When Typhoon Yagi hit Vietnam, my parents told me that this year there were many natural disasters, so I should live frugally and not spend lavishly, and save some money to support those affected by the storm and flood. My parents taught me the habit of saving and spending wisely. I am always grateful to them.
在越南，我们有两个概念：死钱和死黄金。由于越南地处敏感的地理位置，经常遭受自然灾害和洪水，所以人们的生活非常节俭，这个习惯代代相传。死钱指的是越南人存入银行但不用于投资获利的钱。根据越南国家银行的统计，截至2024年9月，越南人存入银行的金额接近7000亿美元。死黄金指的是人们年复一年购买存放在家中保险箱里而不使用的黄金。据越南国家银行统计，这部分黄金约500吨，而世界银行预测接近1000吨。
越南政府会定期开会提议措施，希望利用这些钱和黄金刺激人们投资商业，但储蓄习惯已深入越南人的血液，代代相传，无法改变。根据越南国家银行的统计，全国每天约有3.5亿美元存入银行。截至2024年9月，银行存款金额接近7000亿美元且持续快速增长。预计10年内将超过1万亿美元。我非常担心会出现另一个贪污近400亿美元的张美兰。
在越南，没人用现金买房买车或旅游。我记得我给母亲买了条35美元的裙子，她说太贵，让我下次在家乡买更便宜的。当台风"野牛"袭击越南时，我的父母告诉我今年自然灾害多，应该节俭生活，不要挥霍，省下些钱帮助受灾的群众。父母教会了我节俭和理性消费的习惯，我永远感激他们。
It's everywhere not specifically in Thailand.
Top tiers got support from the government as an initiative to create jobs because the government is too lazy to manage citizens.
Poor people got support from the government because politicians wanted a vote to stay as a government.
The real economic burden is carried out by the middle class worker.
这种情况到处都有，不只在泰国。
上层阶级得到了政府的支持创造就业，因为政府懒得管理公民。
穷人得到了政府的支持，因为政客需要选票继续执政。
真正的经济负担落在了中产阶级的身上。
Around 65% of debt wouldn't have ever existed if the middle class used common sense instead of taking the easy way out with taking debt.
如果中产阶级运用常识而不是图省事去借贷，大约65%的债务根本不会存在。
原创翻译：龙腾网 https://www.ltaaa.cn 转载请注明出处
If i were the son the smartest thing to do is to follow moms footstep in real estate, clear debts till positive cashflow then start pursuing music career. He 30k USD income if debt free is more the enough to live in luxury in thailand. The mothers Ford Ranger is considered luxury range for south east asia so i feel its more of money management.
如果我是那个儿子，最明智的做法是跟随母亲的脚步进入房地产，还清债务直到现金流为正，再开始追求音乐事业。如果没有债务，他3万美元的收入在泰国足以过上奢侈的生活。他母亲的福特Ranger在东南亚已算豪华车了，所以我觉得问题更多出在理财方式上。
As a Thai , the recent surge in debt comes from 3 factors
Covid 19
Thai reckless spending (cars , houses , credit card)
The incompetency of the past goverment and the current. next to zero actions were taken to ease the household debt problem and sometimes even encourage more uncessesary spending
作为泰国人，近期债务激增源于三个因素：
新冠疫情
泰国人挥霍无度(汽车、房子、信用卡)
过去和现任政府的不作为。他们几乎没采取任何措施缓解家庭债务问题，有时甚至鼓励更多不必要的消费。
Bangkok and Thailand is becoming so expensive but the people's income are still same... as prices increase due to tourism and its imported inflation, how can the Thais not be in debt ...one of the disadvantage of tourism is it brings imports inflation ..artificial inflation - not derived from market demand but a perception of demand - there is no secondary market for BKK properties but yet its priced like Singapore.. a bubble that will blown one day
曼谷和泰国变得越来越贵，但人民的收入依旧...由于旅游业带来的进口通胀导致物价上涨，泰国人怎能不负债...旅游业的弊端之一就是带来进口通胀...人为的通胀 - 不是源于市场需求而是需求假象 - 曼谷的房产根本没有二级市场，价格却像新加坡一样...这是一个总有一天会破灭的泡沫。
If you've been to Thailand, it is easy to understand why they are so in debt. Thailand is a developing country that acts like a developed country. They have excellent infrastructure, medical services, and there are malls and leisure activities all over the place. So many cars on the roads, so many malls, so many restaurants, and so many people wearing brand name clothes it is no wonder. Compared to America, most Thais I have encountered in Bangkok have nicer clothes and eat better and out more than most Americans. And it seems like everyone has the nicest sneakers and phones, yet the import tariffs on them make them sometimes 50% in Thailand than America. And cars can be 200% more than America if it's imported. Lastly, the Thai government did nothing to help their citizens during Covid. It was a sad sight to see.
如果你去过泰国，你就很容易理解他们为何负债累累。泰国是个表现像发达国家的发展中国家，他们有优秀的基础设施、医疗服务，到处是商场和休闲场所。路上那么多车，那么多商场，那么多餐厅，那么多人穿名牌衣服，难怪会这样。相比美国，我在曼谷遇到的大多数泰国人穿着比大多数美国人更好，吃得更好，外出就餐更多。似乎每个人都有最好的运动鞋和手机，而进口关税使它们在泰国的价格有时比美国高50%。如果是进口车，价格可能是美国的200%。最后，泰国政府在疫情期间没有帮助公民。这景象令人难过。
Whats amazing is people never .. never learn from theirs or others' mistake .. when they have money they will spend more and more .. thinking that they will constantly make the same or more amount of money .. zero crisis awareness.
令人惊讶的是人们从不...从不从自己或他人的错误中吸取教训...有钱时他们会花得越来越多...以为总能赚到同样或更多的钱...完全没有危机意识。
原创翻译：龙腾网 https://www.ltaaa.cn 转载请注明出处
The Philippines should learn from this dilemma. There's a growing middle class in PH and hopefully will not succumb to debt. I think PH had lower household febt due to accessibility so I hope it remains checked and not exxperience some household spending spree with the money you still don't have. That's where the trouble starts.
菲律宾应该从这个困境中吸取教训。菲律宾的中产阶级正在壮大，希望他们不会陷入债务危机。我认为菲律宾由于获取渠道有限，家庭债务较低，我希望保持这种状态，不要出现用还没到手的钱疯狂消费的情况，因为麻烦就是从那里开始的。
simply put, a debt trap is a death trap ! The irony though, what could have intially been a way out of problems, could end up becoming your own noose ! In Thailand this is a way too familiar paradigm, unfortunatel! I always wondered how could young guys afford expensive heavy bikes and 4×4 trucks
简单来说，债务陷阱就是死亡陷阱！讽刺的是最初可能是解决问题的方法，最终却可能成为勒死自己的绞索！在泰国，这种模式太常见了，真不幸！我一直想知道年轻人怎么能买得起昂贵的重型摩托车和四驱卡车。
原创翻译：龙腾网 https://www.ltaaa.cn 转载请注明出处
Thanks to the encouragement and enticing new lifestyles portrayed on social media platforms. More and more youngsters and those in the middle class are overspending. They're spending lavishly on luxury items to keep up with pier pressure and expectations. That's the root cause of most debts these days!
多亏了社交媒体平台描绘的鼓励和诱人的新生活方式，越来越多的年轻人和中产阶级过度消费。他们为了跟上同龄人压力和期望而大肆购买奢侈品，这就是当今大多数债务的根源！
I'm reluctant to admit this, but Chinese are smarter with the money in general. Chinese work hard and grinding until they have a succesfull business. Most of them won't run to nearest BMW show room as soon as they have signed a good contract to show off. Thais when they get their investments loans approved, first thing they doing is running to Mercedes to buy a new car because it will in their eyes create respect from their workers and friends. One example I've seen is in a Chinese family in Thailand, the elders are responsible for doing gold stockmarked, sitting hours outside the Gold shops to trade gold. This dynamics you won't find in other countries.
我不太愿意承认这点，但总体上华人更会理财。华人会努力工作，直到事业成功。他们大多数人不会刚签了个好合同就跑去最近的宝马展厅炫耀。泰国人一拿到投资贷款，第一件事就是跑去买奔驰的新车，因为这在他们眼中能赢得员工和朋友的尊重。我见过的一个例子是在泰国的华人家庭，长辈负责黄金交易，他们会在金店外坐几个小时交易黄金。这种情况你在其他国家找不到。
I live in the Philippines and I only have car loan. When we decided to buy a car, we rationalized how it will help us, we calculated the monthly amortization and made sure we can still save some for emergency purposes every month. I don't buy branded shoes and bags. I only buy local products. I think this debt issue all boils down to self discipline and financial literacy. People should realized that it should be needs over wants most of the time.
我生活在菲律宾，我只有车贷。我们决定买车时理性地分析了它将如何帮助我们，计算了每月的分期付款，确保每月还能存些应急钱。我不买名牌鞋包，只买本地产品。我认为债务问题归根结底是自律和理财知识，人们应该明白大多数时候需要应该优先于想要。