Health Is a More Valuable Asset Than Money! Insights into Which Thai Generation Spends the Most on Longevity

In the past, we often viewed hospital visits or health-related expenses as "costs" that arose only when the body deteriorated. But in the modern world, the definition of health has shifted from "treatment" to "investment" with a key term being "Longevity" which means living a long life with quality.

This change in perspective has led Thailand to enter the realm of "Longevity Economy" or Longevity Economy, driven by consumers who see health as a long-term investment, not just treatment when ill.

According to data from the Global Wellness Institute, Thailand's Health & Wellness market has grown rapidly in recent years, increasing from 31.6 billion USD in 2022 to 40.5 billion USD in 2023, a growth of over 28.4%, one of the highest rates globally.

Similarly, Thailand's health and spa tourism market expanded enormously, generating over 12.3 billion USD in 2023, up 119.5% from the previous year. This clearly reflects that "health" has become both an economic asset and a contemporary cultural value for Thais—a new form of luxury and success, also creating new pressures in the marketing sector.

Here is an in-depth analysis from Mahidol University's College of Management (CMMU) exploring what each Thai generation is willing to spend on...

In this context, CMMU conducted research "The Healthcare Landscape of Thai People" to investigate behaviors, values, motivations, lifestyles, and factors influencing Thai consumers' decisions when purchasing health products and services by age group, including interest and readiness to use Longevity services (Longevity Center, Longevity Retreat, Longevity Residence).

The study sampled 450 people: 150 Gen Z, 150 Gen Y, and 150 Gen X, covering the three main generations in today's health market.

Results show that all age groups increasingly prioritize health care and integrate self-care activities into daily life continuously, making it a routine behavior. Although all generations value health equally, clear differences exist in motivations, information sources, and readiness to spend on health.

Gen Z is classified as "fast adapters" who grew up in the digital age and adopt new trends first, preferring to seek health information primarily through social media.

• Despite limited purchasing power, their average spending is 262 baht per meal on healthy food and 2,592 baht per month on vitamins and supplements, indicating a growing interest in health investment.
• For exercise, they prefer high-energy activities, mostly running, motivated by the desire for good health and a positive image, though their consistency is lower than other generations, with only 61.99% exercising 3–4 days per week.
• Regarding mental health care, 33.83% of Gen Z prefer relaxation through hobbies and leisure activities.
• In group activities, 71.33% believe that having a group or community helps maintain continuous health care. Gen Z also values sharing experiences or results from activities on social media the most.
• They show less interest and willingness to pay for Longevity services compared to other generations.

Gen Y plays the role of "balanced investors in their own health." They have the highest health spending and also primarily seek health information online like Gen Z.

• Gen Y spends 4,608 baht per month on vitamins and supplements and the highest average of 320 baht per meal on healthy food compared to other generations.
• They are highly disciplined exercisers, with 81.99% working out at least 3–4 days per week, motivated by maintaining strong health and placing the greatest emphasis on disease prevention.
• For mental health, 32.50% engage mainly in hobbies and relaxation, with restorative travel also gaining interest.
• In group activities, 90.67% agree that having groups or communities helps sustain health care. Regarding Longevity services, while Gen Y is not the most interested group, they are willing to pay the most, especially for Longevity Retreats, averaging 25,000 baht per visit, higher than other generations.
• .

Gen X is defined as "health balance maintainers" who focus on sustainable health care and trust expert health information from clinics or hospitals more than digital sources.

• Gen X spends the most on vitamins and supplements, averaging 4,846 baht per month, and 297 baht per meal on healthy food.
• They are the most disciplined exercisers, with 91.34% exercising at least 3–4 days per week, preferring long-term suitable activities like walking or brisk walking, motivated by weight control and maintaining strength and youthfulness over time.
• For mental health, 32.46% prioritize religious activities and are willing to spend the most on activities promoting mental peace, averaging 13,993 baht per session.
• Almost all Gen X (93.33%) agree that group or community activities make health care easier and more continuous.
• They show the highest interest and readiness to pay for Longevity services, especially Longevity Centers, with the highest willingness to pay of 4,061 baht per visit.

Looking deeper into each generation reveals significant business opportunities: Gen Z, though not yet a main buyer group, is open and quick to try new health products and services, playing a key role in pioneering demand and paving the way for long-term Longevity market growth.

Gen Y clearly has readiness and strong purchasing power, making them the “Sweet Spot” or golden group for businesses developing experiential health packages. Brands that can build trust, create clear content, and connect with values of sustainability, quality of life, and work-life balance will have special opportunities to win this segment.

Meanwhile, Gen X is serious and ready to use and pay, especially for Longevity Center, Retreat, and Residence services, ideal for businesses focusing on “in-depth and reliable services” such as holistic health centers, specialized hospitals and clinics, and residences with comprehensive health care services.

Professor Prasert Thawatchoktawee, project advisor from the Marketing Department at Mahidol University's College of Management (CMMU), said at the seminar "Design Your Own Longevity: Exploring Your Own 'Longevity'" that Thailand is facing major demographic and consumer behavior changes as it approaches becoming a fully aging society in the coming years.

Along with younger generations beginning to care more about quality of life for longer lives—not just "living longer" but "living well"—the concept of Longevity or quality long life has become a key trend with significant impacts on the economy and consumer market structure.

“Research shows that the Longevity Economy is no longer limited to health products or services but is expanding into a new ecosystem covering channels, communication content, product design, services, experiences, and long-term life planning. Brands and businesses that understand the unique needs of each generation—for example, using digital and community engagement for Gen Z, premium values and experiences for Gen Y, and trustworthiness, in-depth services, and long-term planning for Gen X—will have opportunities to lead the rapidly growing Longevity Economy,” Professor Prasert added.

References Mahidol University College of Management

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