Skip University, invest in a business

Skip University, invest in a business

12/21/2023
Two Decades in Thailand: Insights and Advice from an Expat Entrepreneur to my Thai Friends
Cameron McKean Cameron McKean

Introduction

As I reflect on my nearly two decades living in Thailand, it's remarkable to consider the journey I've embarked upon. From mastering the Thai language to establishing successful businesses and employing hundreds of locals, my experience has been both rewarding and eye-opening. However, it's not just the business success that has shaped my time here, but also the deep insights into the cultural and societal dynamics of Thailand.

The Cycle of Familial Dependency

One of the most striking aspects I've observed is the reliance of rural Thai families on their younger members working in cities like Bangkok. These children often shoulder the responsibility of supporting their extended families, sacrificing their own financial stability and future savings. This cycle, deeply entrenched in the societal fabric, sees generations spending their working lives supporting their families, with little left for their own retirement.

The Plight of the LGBTQ Community

This situation presents an even more significant challenge for the LGBTQ community. Often without children of their own, many in this community face a bleak future, lacking the familial support system that others rely on. This highlights a critical gap in the traditional support structures within Thai society.

Rethinking "Thai Culture"

The justification often given for this system is that it's part of "Thai Culture." However, I find this reasoning oversimplified. It appears that some rural families prefer having more children as a means to a better life, instead of focusing on savings, investment, or entrepreneurship. While there are certainly entrepreneurial Thais breaking this cycle, for many, this remains an unattainable dream, leading to increased financial struggles.

The Growing Economic Divide

Over the last two decades, I've witnessed a sharp increase in household debt and living costs, especially in Bangkok. Unfortunately, this hasn't been matched by a corresponding rise in average wages, leading to a widening economic gap.

Personal Advice: Embracing Entrepreneurship Over Education

Based on my observations and experiences, my advice to Thai friends has often been unconventional: consider skipping university and higher education, and instead invest in starting a business. I advocate for partnerships with successful, like-minded individuals, aiming to create a path toward financial freedom and breaking the cycle of dependency.

Conclusion

Living in Thailand for almost 20 years has offered me a unique perspective on the country's cultural and economic landscape. The challenges faced by its people, especially in rural areas and within marginalized communities like the LGBTQ, are complex and deeply rooted. However, I believe that through entrepreneurship and a shift in cultural paradigms, there is hope for a more financially independent and secure future for all Thais.

 


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