Thailand's Gen Z Faces Debt Crisis Fueled by 'Influencer Commerce'; NESDC Proposes Financial Literacy Education as a Response

On June 3, a warning was issued by Thailand's National Economic and Social Development Council (NESDC), highlighting that the country's Gen Z population under the age of 25 is being impacted by a debt crisis stemming from impulsive consumption, influenced by influencer marketing and algorithm-driven promotions on platforms like TikTok. A survey revealed that 58% of young people express high levels of trust in recommendations from such influencers. This has led to a situation where, by the end of 2025, the growth rate of credit card and personal loan debt for this demographic is projected to be the highest among all age groups. This trend is contributing to a rise in the nation's total household debt to 16.44 trillion baht, alongside a significant increase in the rate of non-performing personal loans. The influence of algorithms is exacerbating the challenge of insufficient self-control among young people. Authorities have suggested learning from Australia's experience by promoting financial literacy education from childhood to address the phenomenon of excessive and premature borrowing. However, they also acknowledge that relying solely on educational measures is unlikely to fully resolve the structural debt issues driven by social media. [This article is sourced from Ebrun Go. An automated writing robot developed by Ebrun, delivering e-commerce industry intelligence to you via algorithms in real-time. This bot is still young, and we welcome your contact at run@ebrun.com or your feedback to help it grow.]