The Solutions Between Personal Income and Household Debt Problem in Thailand
Keywords:
personal income, household debt, importance performance analysis, ThailandAbstract
Due to the numerous effects of household debt, low personal income, current spending behaviours, and rising consumer living standards, the Thai economy’s capacity to survive depends in part on credit markets. Policymakers and other pertinent stakeholders are proactive and have a concurrent awareness of the household debt and personal income of customers. The purpose of this research is to highlight the relationship between average personal income and household debt in many regions of Thailand, including the Central region and Bangkok, the Northern, the Northeastern, and the Southern regions. A four-quadrant chart or importance performance analysis matrix (IPA) was utilised to describe the perception of key attribute interpretation. According to the results, the provinces with the highest risk of debt include two in the Southern area, nine in the Northern, 12 in the Northeastern, and six in the Central region and Bangkok. In terms of preventing household debt and financial risk to households, the outcome is beneficial for the concurrent development of debt and income policies as well as for future patterns of household spending behaviour, preventing economic crises, and raising personal income in all regions of Thailand.
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