Household debt in Thailand has long been elevated and escalated during the COVID-19 pandemic. The debt-to-GDP ratio peaked at 95.5% in early 2021 before easing slightly to about 90%.
Consumption loans account for roughly 77% of household borrowing, while business loans make up only 18%. Unsecured loans, including credit card and personal loans, represent almost 30% of total debt [ Q3/2025 BOT’s credits for household sector by objectives].
Many households begin borrowing at a young age, often without fully understanding loan terms, and rely on minimum credit card payments—practices that contribute to persistent debt accumulation.
Insufficient emergency savings and limited debt management mechanisms have left…