INTERNATIONAL RETIREMENT MIGRATION-RELATED REAL ESTATE IN THAILAND: GLOBAL CONTEXT, CURRENT SITUATION, AND INDUSTRY OUTLOOK

Abstract

Thailand has emerged as a prominent destination for international retirement migration (IRM) in the Global South, prompting the need to explore IRM's implications for the country's economy and society. This article delves into the multifaceted nature of IRM in Thailand, focusing on the related real estate market. Following a brief introduction, this article first examines the global development of IRM, highlighting its connections to active ageing, lifestyle migration, and transnationalism. It unravels the intertwined nature of these concepts in the context of Thailand's ageing society and then scrutinises the emerging trend of the transnational retirement industry (TRI) and its global growth, shedding light on its transformative potential in reshaping retirement patterns. The next part provides a comprehensive analysis of the current state of IRM-related real estate in Thailand, highlighting the coexisting opportunities and challenges within its development. The conclusion part also offers recommendations for policymakers and suggests future research directions. By examining the multifaceted aspects of IRM-related real estate, this article not only provides valuable insights for policymakers, researchers, and industry practitioners, but contributes to existing knowledge, and serves as a resource for those navigating this evolving landscape.