Bitkub Chief Topp Jirayut Sounds Alarm on Thailand’s Debt and Growth Risks

Bitkub CEO Warns Thailand Needs Structural Reset as Debt and Aging Workforce Threaten Growth

Thailand’s economy is facing deep structural challenges that could slow long-term growth unless urgent reforms are implemented, according to Bitkub CEO Topp Jirayut. The tech and digital asset executive warned that rising household debt, declining investor confidence, and demographic pressure are creating systemic risks for Thailand’s economic future.

Key Stats

• Thailand household debt: Near historic highs
• Thailand entering aging society phase
• Investor confidence in Thailand’s stock market remains fragile
• Digital infrastructure identified as a critical future growth driver

Bitkub CEO Flags Structural Economic Risks

Topp Jirayut, founder and CEO of Thailand-based cryptocurrency exchange Bitkub, said Thailand has been trapped in a prolonged cycle of economic challenges that continue to impact household financial stability and national growth prospects.

Posting on social media on February 8, 2026, Jirayut stressed that Thailand’s economic issues are not temporary fluctuations but deeply rooted structural problems that require long-term policy solutions.

According to him, economic stagnation directly affects everyday citizens, reducing purchasing power and limiting opportunities for financial mobility across Thailand.

Jirayut emphasized that if Thailand wants to maintain competitiveness in Southeast Asia and the global digital economy, policymakers must address systemic weaknesses rather than rely on short-term stimulus measures.

Household Debt Remains a Major Economic Threat

One of the most pressing risks highlighted by the Bitkub CEO is Thailand’s rapidly expanding household debt burden, which has reached historically elevated levels in recent years.

High household debt reduces consumer spending power, increases financial vulnerability, and can slow overall economic growth. Jirayut noted that without coordinated structural reforms, debt levels could continue to limit Thailand’s economic recovery and future expansion potential.

He also stressed the importance of restoring confidence in Thailand’s stock market, which he believes plays a vital role in attracting investment capital and funding business expansion.

Stronger capital markets, according to Jirayut, could help stimulate innovation, entrepreneurship, and job creation across multiple sectors in Thailand.

Thailand Faces Demographic Shift Toward an Aging Society

Jirayut also warned that Thailand’s transition into an aging society presents a long-term structural challenge for labor productivity and economic sustainability.

As the working-age population declines, Thailand may face labor shortages and increased pressure on social welfare systems. Jirayut said Thailand must begin preparing its workforce to meet the demands of a rapidly evolving global economy.

He called for stronger investment in human capital development through nationwide Upskill and Reskill programs, focusing on digital literacy, technology, and future-ready skills.

Such workforce transformation, he said, will be essential for Thailand to remain competitive in industries driven by automation, artificial intelligence, and digital innovation.

Talent Attraction and Policy Reform Seen as Key Growth Catalysts

The Bitkub CEO also stressed the need for Thailand to attract global talent by removing bureaucratic barriers and outdated regulatory frameworks often described as “paper-based policies.”

He argued that simplifying administrative processes and encouraging international professionals to work in Thailand could accelerate innovation and strengthen the country’s digital and technology sectors.

Thailand’s ability to compete globally, he noted, increasingly depends on its openness to foreign expertise and cross-border collaboration.

Digital Infrastructure Could Define Thailand’s Next Economic Phase

Jirayut identified digital infrastructure as one of the most critical foundations for Thailand’s future economic growth.

He believes investment in digital networks, fintech ecosystems, and emerging technology industries could position Thailand as a regional digital hub in Southeast Asia.

As CEO of one of Thailand’s largest digital asset platforms, Jirayut emphasized that blockchain, financial technology, and digital industries could serve as new growth engines if supported by strong infrastructure and forward-looking policy frameworks.

Thailand Still Holds Strong Long-Term Potential

Despite highlighting multiple structural risks, Jirayut expressed confidence in Thailand’s long-term economic potential. He said Thailand possesses strong human capital, entrepreneurial energy, and strategic geographic advantages within Southeast Asia.

However, he warned that realizing this potential will depend heavily on whether Thailand can implement decisive structural reforms and adopt a clear long-term economic direction.

According to Jirayut, Thailand’s future growth will be shaped by how effectively it manages debt risks, demographic transitions, talent development, and digital transformation.

“Thailand has strong foundations and talented people. If we set the right direction, the country can achieve sustainable growth and remain competitive globally,” Jirayut concluded.