Rakuten Insight’s Thailand Cost Pressure Pulse (Wave 1, n=1,054) finds 56% of Thais expect their household finances to deteriorate — and nearly one-in-three is already sacrificing Songkran travel to manage costs.

As global oil markets remain rattled by the Strait of Hormuz crisis and the Thai baht continues to face depreciation pressure against the US dollar, a new survey by Rakuten Insight finds that Thai consumers are acutely aware — and deeply anxious. The Thailand Cost Pressure Pulse (Wave 1), conducted in March–April 2026 among 1,054 Thai adults, places average cost-of-living concern at 8.09 out of 10 — with 53% of respondents rating their concern at 9 or 10. That is not background noise. That is alarm.

Fuel Leads. Food Follows. Thais Are Squeezed at Both Ends.

In the battle of cost anxieties, fuel and transport costs come first for Thai consumers — cited by 34% as their single biggest worry, ahead of food and groceries (27%), job and income stability (12%), and utilities (10%). This stands in notable contrast to Malaysian consumers surveyed in the same period, where food outranked fuel — a reflection of Thailand’s higher vehicle dependency and its more exposed domestic fuel pricing structure.

The data reinforces this: 87% of respondents own a car, motorcycle, or both. When pump prices move, Thai households feel it immediately and personally.

Yet fuel is not the only squeeze. Utility costs are rising too. Net spending intent on utilities registers at +41 percentage points — one of the highest of any category, and almost entirely involuntary. Groceries show a modest net of +9pp. These are not aspirational purchases; they are unavoidable. The pain is structural, not discretionary.

Dining Out, Travel, and Delivery Face the Steepest Cuts

When Thai households tighten, they tighten fast — and selectively. The survey’s net spending intent scores reveal a sharp hierarchy of sacrifice:

• • Dining out / cafés: Net intent −43pp (the steepest drop of any category)
• • Travel & holidays: Net intent −38pp (driven partly by Songkran-season decisions)
• • Food delivery / quick commerce: Net intent −33pp
• • Big-ticket items: Net intent −23pp (electronics, appliances, furniture)
• • Apparel & footwear: Net intent −27pp
• • Entertainment & subscriptions: Net intent −19pp (streaming, gaming)

Dining out tops the cut-back priority list too: 49% say they would reduce restaurant and café spend first if prices rise further, ahead of travel (33%) and food delivery (28%). For platforms operating in the food and entertainment space, this is not a warning signal — it is a confirmed behavioral shift already underway.

Songkran in the Shadow of Cost Pressure

Perhaps no data point better illustrates the lived reality of Thai cost anxiety than the Songkran question. Asked whether they would travel to other provinces during Songkran Festival — one of Thailand’s most culturally significant annual events — 31% said no specifically because of fuel prices and cost of living. Only 27% confirmed they planned to travel at all.

This is a cultural and economic signal simultaneously. Songkran travel is not casual leisure — it is deeply tied to family obligation and social identity. When a third of the population is rerouting that decision because of cost, the pressure is real enough to override tradition.

The Thai Response: Self-Discipline Before Credit, Side Hustles Before Savings

When asked what they would do first if monthly expenses rose unexpectedly, 64% of Thai respondents said they would cut discretionary spending. Just 6% would dip into savings; only 3% would turn to BNPL or instalment plans; and 2% to credit cards. The instinct is self-discipline — not leverage.

But the more striking finding is what sits alongside restraint: 48% of respondents say they are actively looking for extra income or side gigs in the next four weeks. This is not passive coping. Thai consumers are responding to cost pressure by expanding supply — earning more, not just spending less. It is a resilience posture that has implications for financial product design, gig economy platforms, and employer value propositions alike.

On average, Thai respondents are deploying nearly three coping strategies simultaneously — a figure that points to the multi-lever nature of household adaptation under sustained cost pressure. Single-action responses are rare; most households are restructuring broadly.

The Interest Rate Blind Spot

Among all the economic factors tracked, interest rates represent the largest gap between consumer awareness and anticipated impact. Only 36% of respondents report high awareness of interest rate and borrowing cost news — the lowest of any category surveyed. Yet 49% expect interest rates to have a big or very big impact on their household spending in the next one to three months.

That 13-percentage-point gap is the survey’s most commercially significant finding for financial institutions. Consumers are already feeling the downstream effects of rate decisions without fully tracing the cause. For banks and lenders, this represents both a communication challenge and an opportunity: households are receptive to framing that makes the rate environment concrete and personal.

When Price Pressure Hits, What Keeps a Brand in the Basket?

With spending under structural pressure, brand loyalty is being renegotiated. The survey asked Thai consumers what drives brand or service selection when money feels tight. The results challenge conventional marketing assumptions:

• • Lowest price: 51% — the dominant factor by a clear margin
• • Durable long-term value: 44% — not just cheap, but lasting cheap
• • Trusted quality (won’t risk wasting money): 37% — value-consciousness, not recklessness
• • Promotions & cashback: 30% — tactical price-seeking
• • Convenience & speed: 16% — ranked last among meaningful drivers

Convenience — often the cornerstone of premium service marketing — is the least compelling factor when consumers are under pressure. Brands that lead with speed, ease, or experience as their primary value proposition face a harder sell in the current environment. Price transparency, durability, and quality assurance are what Thai consumers are buying.

About the Thailand Cost Pressure Pulse

The Thailand Cost Pressure Pulse is a consumer sentiment tracker conducted by Rakuten Insight, measuring cost-of-living exposure, financial outlook, spending intentions, and coping behaviors among Thai households. Wave 1 was conducted in March–April 2026 among n=1,054 Thai adults aged 18 and above, with quotas applied across age, gender, and region to broadly reflect the national demographic profile. All fieldwork was conducted via Rakuten Insight’s online panel. The margin of error at the 95% confidence level for a sample of this size is approximately ±3 percentage points on total sample figures.

Related articles: Luxury Products in APAC, Malaysia Cost Pressure Pulse – wave 1

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