#Businessinnovation

Thailand’s role as a regional economic hub is under pressure as the World Bank’s February 2025 Thailand Economic Monitor shows the country trails its ASEAN peers in business innovation. The report highlights an widening innovation gap that threatens jobs, investment, and incomes—especially for the 12.9 million Thais working in SMEs.

For Thai readers, innovation is more than a buzzword; it’s essential for future stability and wellbeing. A strong capacity to innovate can create jobs, attract investment, and raise living standards. Without swift action, communities across the country risk falling behind as global trade becomes more volatile.

A new wave of social science research suggests that demographic inertia among older consumers, the pitfalls of chasing trendy college majors, and even political gerrymandering are subtly but powerfully influencing business and education landscapes worldwide, with clear implications for Thailand. Recent studies highlighted in a Boston Globe summary raise concerns about Thailand’s entrepreneurial future, university graduates’ career paths, and the role of psychological traits in shaping academic debates.

Thailand, like many developed economies, is fast becoming a “super-aged” society. By 2024, over 20% of Thais were aged 60 or older, a proportion forecast to climb further in the coming decades World Bank. According to a May 2025 National Bureau of Economic Research report by University of Pennsylvania economists, this shift has much more than just social policy implications—it may also chill the prospects for new businesses. Their findings: older consumers are less willing to try new brands and products, leading to fewer startups and less competition in markets with aging customer bases (Bornstein, G., “Entry and Profits in an Aging Economy: The Role of Consumer Inertia,” NBER, May 2025).