While many Westerners associate the wealth of Asia primarily with countries like Singapore and Japan, Thailand has its own population of Hi-So “ultra-rich individuals.” The country’s wealth distribution reveals that although Thailand is not generally considered a wealthy country, it has a significant number of people in the top 1% income bracket.

Reaching the top 1% of income in European countries often requires a mix of hard work and lucky circumstances. However, the question of what level of wealth defines this privileged income bracket of 1% remains valid.

What is the income of the top 1% in Thailand?

Land of SmilesThailand is the 29th largest economy in the world and the second largest economy in ASEAN. Tourism drives the country’s economic activity, and Thailand is also a major global rubber exporter.

In Thailand, the top 1% of income earners are approximately 500,000 people. Although not officially confirmedAccording to many sources, to be among the top 1% of earners in Thailand is approximately 380 thousand baht or 250 thousand baht per month This works out to an impressive 1 million baht every four months. Even more impressive, this elite group of the top 1% generates 21% of Thailand’s national income annually.

Top players who increased the wealth of the top 1%

Thailand’s biggest moneymakers are ruining it real estate, finance and banking, manufacturing and tourism. These strong industries not only underpin the economy, but they also lag behind the top 1% of income in Thailand. These are the top 3 players in the Thai economy.

Chalerm Yoovidhya and family

The Yoovidhya family, led by Red Bull co-founder Chaleo Yoovidhya, owns a 51% stake in the company. After successfully resolving its trademark dispute with Red Bull China in 2020, the company continued to grow even after the death of Austrian co-founder Dietrich Mateschitz in 2022. The company traces its roots back to Chalerm’s late father, Chaleo, who helped transform a local Thai brand. We are turning energy drink into a global powerhouse.

Chearavanont brothers

CP Group’s story started from a modest seed shop founded in 1921 by brothers Chia Ek Chor and Choncharoen Chiaravanont, and has grown into a global giant in animal feed and livestock farming. The empire is currently ruled by four family branches, with Dhanin Chearavanont still retaining power as senior head after leaving office in 2017. Talk about keeping it in the family; Dhanin’s sons Soopakij and Suphachai now run the show as president and CEO. They added another victory to their belt in 2023 when their telecom unit True merged with Total Access Communications.

Charoen Sirivadhanabhakdi

From the children of street vendors to the giants of the beverage industry. Charoen Sirivadhanabhakdi is a self-made mogul who runs Thai Beverage and 7 Eleven Thailand, the powerhouse behind Chang Beer, and he’s not stopping there. He built an empire that stretched from Fraser & Neave in Singapore to the Big C Supercenter in Thailand. He bought it for 6 billion dollars. In 2019, he took his real estate company Asset World public and kept most of the shares for himself. Now son Panote is following in his father’s footsteps and heading towards a whopping $4 billion A Bangkok project.

Thailand’s wealth distribution

Concentration of wealth in Thailand It surpasses even major economies such as Russia and India. Figures show that the top 10 percent hold a staggering 85.7 percent of the country’s total wealth, while the bottom half of the population holds just 1.7 percent.

This difference becomes even more evident when compared to developed countries. In Belgium, the top 1 percent control 20.1 percent of national wealth. To give you a better perspective, here is a pie chart of wealth distribution in Thailand:

Typical jobs for the top 1%

How did they get to this position? The typical jobs for the top 1 percent to make this much money in Thailand’s competitive economy include CEO, investor, lawyer and high-level board positions.

Accordingly Open Development Thai, 67 percent of the country’s wealth is in the hands of the top 1 percent, with the rest shared among the rest of the population. Although wealth distribution is not as severe as in some countries. Thailand is still considered to have an unequal distribution of wealth.

Two main paths are common to reach Thailand’s top 1%: Individuals must be highly professional in their particular career or come from wealthy families. These roles require extensive expertise, connections, and often years of strategic career development. Jobs commonly associated with this wealth group include:

• CEOs
• successful investors
• High profile lawyers
• Corporate board directors.

While some countries face even greater wealth disparities, Thailand’s wealth distribution remains significantly unequal by international standards.

What is considered a good salary in Thailand?

How much do you need to earn to live comfortably in Thailand, this of course also depends on your lifestyle. But a typical average household earning an average salary in Thailand can live a comfortable lifestyle. It is cheaper, especially in areas outside Bangkok.

However, 100 thousand per month is considered a good salary. This is often seen as the threshold for an affluent lifestyle in urban areas such as Bangkok. This income level allows for luxury living, including high-end housing, dining, and leisure activities. In terms of net worth, individuals are considered to need assets exceeding 10 million baht. This may include property, investments and savings.

Average Thai salary

The average Thai individual Average 15,000 baht according to Expatica. However, since the average of each province varies, this number may be a rough estimate.

*The table above is taken from its source. How to Do Thailand (Source)

Bangkok and Phuket remain the top paying regions due to their urbanization and economic opportunities. While there are provinces like Chiang Mai Those in the Northeast, on the other hand, show lower average salaries relative to their respective economic activities and cost of living.

Average foreign salary

Although foreigners face certain limitations in the Thai job market compared to locals, there are a variety of career paths available to foreign professionals. Jobs like English teaching positions, digital nomad opportunities, NGO work and even kitchen roles for those with relevant experience. These positions generally offer salaries above the national average. However, it is important to note that salary can vary significantly depending on location; Large urban centers such as Bangkok generally offer higher salaries than provincial areas.

*The above table is the source. How to Do Thailand (Source)

This article reveals the difference in wealth compared to the average. This will give you typical demographics and additional information about the top 1% of the country’s wealth. This analysis not only sheds light on wealth concentration, but also highlights important debates about financial equality and social mobility opportunities in Thailand.

Thai Life