Millennial Investing - Thailand

Goals

To understand how Thai Millennials invest in Thailand by identifying the type of investments they are involved with (e.g. Thai Baht, US Dollars, physical gold, virtual gold, gold shares, jewelry, and others), and how COVID-19 has impacted the attitudes and behaviors of these investors.

Early Findings

  • According to a 2019 Wealth Report from Thailand, the Millennial generation is characterized for being entrepreneurs, who prioritize wealth creation over wealth preservation.
  • That said, this report provides a comprehensive breakdown of the investments made by this generation both in Thailand and off-shore. Their portfolio allocation is mainly divided across cash, stocks, fixed income, and funds.
  • More specifically, 23.7% of the wealth of Thai Millennials is in cash, including savings accounts and fixed deposits; 21.2% is invested in stocks; 15.4% in fixed income, such as bonds; 15.4% in funds; 8.6% in insurance, 7.4% in real estate assets.
  • When it comes to real estate, a 2020 study revealed that Thai Millennials are more interested in condominiums than other types of residential investments. Among the characteristics that influence the decision of Thai Millennials to purchase high-end properties, branding, security, and quality stand out as the most important ones.
  • Overall trust in stock investing was impacted by both the first and second waves of COVID-19 cases in Thailand, leading to the slow recovery of the market in this context.
  • In addition, property prices have fallen in the country due to the pandemic. While this is seen as an encouraging fact for foreign investment, local investors who can afford it might be interested in purchasing properties in their country, making the most of the current low prices.
  • Another consequence of COVID-19 is that many Thai residents decided to sell their gold as a way to weather the economic impact of the lockdown.

Summary of Findings

  • We used this initial hour of research to assess the availability of the information and to provide initial findings regarding the investments of Thai Millennials in Thailand as well as the impact of COVID-19 on investing decisions.
  • While we were able to find information regarding Millennial investing in the country, information specific to how COVID-19 impacted the investment of this specific group could not be found. Therefore, we expanded our search and have provided information regarding the impact on investments across all generations in Thailand. However, this information was also scarce.
  • Abundant information regarding foreigners investing in Thailand was found during this initial search, we could provide these findings with additional hours of research.
  • We have also found information on how to engage Thai Millennials in the context of investing, further information could be provided with additional hours of research.

Proposed next steps:

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