How sufficient economy philosophy contributes to sustainable resilience: a qualitative study on the COVID-19 pandemic response in Thailand

Abstract

Objective

This qualitative study sought to understand how sufficient economy philosophy (SEP) was applied to cope with and recover from the COVID-19 pandemic.

Design

A qualitative study conducted through focus group discussions.

Participants

19 focus groups, with 161 participants, selected for the diverse backgrounds in gender, profession, education and region (urban/rural) and different levels of impact from the pandemic.

Setting

Bangkok, the capital city, and the four regions of Thailand: north, northeast, south and central.

Findings

Participants highlighted the moderation, reasonableness and prudence as key themes that mitigated adverse economic impacts during the pandemic. Communities practising the SEP reported resilience through balanced consumption, prudent planning and social cooperation. Many participants mentioned that the SEP was crucial to their survival and should have been better practised. Though the market structure failed during the pandemic, they still could secure the essential items to maintain livelihood.

Conclusion

In a society where changes are complicated by multiple factors, crises may occur more frequently, unsuspectedly and in various forms. Tools and a mechanism for resilience are increasingly needed. This study highlights the importance of the SEP, which incorporates five key concepts: moderation, reasonableness, prudence, knowledge and morality. These concepts help affected communities survive and become resilient, which is crucial for achieving several Sustainable Development Goals, such as poverty and hunger reduction, enhanced health and well-being and the sustainability of cities and communities.

Strengths and limitations of this study.

• The data were collected immediately after the first wave of COVID-19 and at the onset of the second wave. Participants’ memories of their experiences and reflections were still fresh and vivid.

• Despite the ongoing pandemic, the study successfully initiated contact with a large number of participants to form a series of focus groups in each region of the country.

• The study, being qualitative in nature, is subject to limitations such as subjective biases. However, the focus groups have provided important insights into how the model can be useful in communities dealing with serious economic issues.

Introduction

The concept of the sufficient economy philosophy (SEP) has been prominent in Thailand over the past five decades since 1974. Introduced by the late King Bhumibol Adulyadej, it has become a crucial tool to guide the direction of national and local economic development. The significance of SEP was further emphasised during the 1997 Asian Economic Crisis, a period when mainstream economic development proved inadequate in addressing the negative impacts of economic crises, natural resource depletion, poverty and income inequality.¹ While mainstream economic approaches emphasise competition, specialisation, economic prosperity, increased productivity and higher consumption, the SEP places a greater emphasis on cooperation, compassion, moderation in consumption and production, less materialism, quality of life and sustainable happiness, and building family, community resilience against future uncertainties.² The SEP is deeply rooted in Thai society, serving as a guiding philosophy for the nation and community development strategies and policies. This influence is notably reflected in Thailand’s Five-year National Economic and Social Development Plans, since 2007.³

The outbreak of COVID-19, particularly during its initial stages in the first half of 2020, not only impacted the healthcare system but also had significant repercussions for the economy. Stringent measures implemented to curb the spread of the virus, such as restriction of international travel, closure of schools and public spaces and restrictions on mass gatherings, had a profound impact on the economy and employment and livelihoods. This effectively plunged individuals into an economic crisis concurrent with the public health catastrophe. This qualitative study explores how the SEP contributed to the sustainable resilience of the Thai people during the COVID-19 pandemic.

SEP

The SEP offers the promise of sustainable well-being for its practitioners. In contrast to the conventional focus on self-centeredness, competition, material consumption and accumulation of wealth and assets, the SEP prioritises a human-centred approach to sustainable development. Furthermore, while mainstream economics failed to address issues such as economic crises and fluctuations, depletion of natural resources, global warming and environmental degradation, poverty and income inequality, the SEP provides guidance on how self-reliance, community support, moderation in resource consumption and prudence in investment can prevent these problems and foster long-term well-being.¹ It seeks to establish a harmonious equilibrium among self-reliance, market dependency and family and community well-being in the long term.²

The SEP consists of three principles: moderation, reasonableness and prudence, based on two foundations of knowledge and morality. Moderation discourages extreme actions and excessive risk-taking, whether in consumption or investment. It advocates maintaining a balance with one’s available resources. Rapid growth can tempt individuals to take on excessive risks, prioritise personal gain over-sharing with others and the community and misuse resources. Emphasis is placed on the appropriate use of resources and the creation of a balanced approach to ensure both growth moderation and resource sustainability.^{4 5} Reasonableness embodies rational actions grounded in cause-and-effect relationships. It also embodies fairness in compensation systems. Decisions must be grounded by rationality, subject to justification through a thorough examination of relevant factors, and consideration of the consequences not only for oneself but also for the broader community and society.⁶ Prudence revolves around the development of robust safeguards and risk mitigation strategies against potential adverse impacts and uncertainties. This includes the accumulation of sufficient savings for future unforeseen emergencies and investments. It also encompasses mechanisms to avert unfortunate circumstances, such as maintaining meticulous records of personal income and expenditures, as well as implementing sound financial practices for businesses to ensure sustainability. The emphasis is on not relying solely on one source of income, as unforeseen events may disrupt the primary income stream. Consequently, having a second career, a secondary job, a backup profession or alternative and supplementary income sources is a crucial rapidly changing environment.⁴

These three principles are interconnected, reinforcing and mutually reliant, contingent on two fundamental conditions: knowledge and morality. Knowledge encompasses a wide range of knowledge, both tacit and explicit, as well as valuable information, skills and experiences that aid in making informed decisions. Without guidance with knowledge, the effectiveness of these three principles is compromised. Therefore, the acquisition of knowledge is vital for broadening one’s understanding. Equally important is knowledge management, which ensures the expansion, preservation and dissemination of knowledge for the benefit of others and future generations.⁵ Morality encompasses positive personal and collective virtues, including attributes such as honesty, integrity, compassion, sympathy, a strong work ethic, respectfulness, high spirits, diligence, creativity, tolerance, altruism and assertiveness. Morality serves as a guiding force that directs the actions of the three principles towards righteousness, reduced conflicts, harmonious society and the cultivation of mutual respect and support among members of society.^{1 5} The SEP can be applied to the individual, community and the national level.⁶ A study shows positive correlation between SEP interventions and well-being across six themes: education, social, economics, agriculture, environment and health.⁵

In 2017, the National Statistical Office of Thailand conducted two rounds of a survey to test the contribution of the SEP to sustainable development. The results substantiated SEP’s role as an alternative avenue towards sustainable development. In contrast to other development models, this study concluded that SEP offers a more comprehensive approach to development, addressing both physical and spiritual betterment. Furthermore, the research underscored the resilience concept embedded in SEP, particularly in terms of effective risk management.⁶ Another quantitative study involving 1667 development projects, which implemented SEP concepts, demonstrated the alignment of SEP with Sustainable Development Goals. It proposed responsible and sustainable consumption and production, the promotion of a peaceful society, the achievement of fairness and the establishment of strong institutions at all levels.⁷

In 2006, the United Nations officially acknowledged SEP as a vital pathway to sustainable development and has since consistently promoted the adoption of SEP programmes and practices across various countries worldwide.⁷

Like many theoretical concepts, SEP has certain limitations. Although it has been applied as an investigative framework at various levels, such as the individual, community and organisational, most studies have been conducted within the Thai context. Moreover, the assessment of its components has often relied on subjective measurements.8,10 The use of focus groups to study this model should provide insights into how the model works in Thai Communities.

First wave of COVID-19 in Thailand

Thailand was the second country to be affected by COVID-19 after the outbreak in Wuhan, China. The Ministry of Public Health triggered a national response on 31 January 2020, immediately after China’s official announcement of the outbreak on 31 December 2019. Stringent measures were introduced to control the spread of the virus, including curfews for the whole month of April 2020, mandatory face mask coverage and hand hygiene, the closure of schools, public areas and mass gatherings, international travel restrictions (both inbound and outbound) and restrictions on interprovincial mobility.

The response at the initial wave was considered successful. Thailand did not report double-digit daily cases until mid-March 2020, and triple-digit cases until late March 2020. Daily new cases started to decline at the beginning of April 2020, with no further local transmission reported after 25 May 2020. The second wave started around the end of December 2020 and early January 2021.¹¹ The WHO commended Thailand for its effective pandemic control, attributing it to strong leadership, evidence-based decision-making and efficient healthcare system, cultural norms and a holistic ‘whole-of-society’ approach.¹¹ Figure 1 shows the timing of the first and second waves of COVID-19 in Thailand.

Figure 1. The timing of the first and second waves of COVID-19 in Thailand.¹¹.

Serious adverse economic consequences followed a successful pandemic response. The lockdown measures and subsequent extensions led to the closure of businesses and production, resulting in a significant loss of jobs. Given that over half (54%) of employment in Thailand was in the informal sector,¹² daily wage earners represented a substantial portion of the economy. These workers did not have the job security provided by corporate or government and typically had limited income and savings.¹³ The lockdowns abruptly terminated their earnings, while personal debts continued to accumulate.

The fear of financial hardship was as significant as the fear of infection and death from COVID, as many individuals faced immediate job and income losses. Reports indicated that the GDP contracted by −1.8% in the first quarter of 2020 and 12.2% in the second quarter. Approximately 60% of the Thai households (around 12.7 million) had contingency savings of less than 3 months, while approximately 7 million households had savings equivalent to just 1 month of normal monthly expenses.¹⁴ They are most vulnerable to an economic shock, while government rescue programmes do not reach them in time of need.

The impact of a pandemic on the economy and livelihood provides a unique opportunity to assess the applicability of SEP at the individual level. This qualitative study sought to understand how SEP was applied, adapted and evolved to cope with the consequences of the pandemic.

Materials and methods

This study was undertaken as the qualitative segment of a larger project entitled ‘Think Forward-Move Forward’, following a quantitative study. The project aimed to investigate the effects of COVID-19 on the Thai population. The quantitative segment used the national representative Labour Force Survey to identify occupations that suffered a negative impact due to the pandemic.¹⁵ This qualitative part aimed to capture the experiences of individuals who were impacted, struggled and successfully navigated through the pandemic challenges.

Initially, social capital (SC) was the primary framework used to explore the survival and resilience of the Thai people. The findings and conclusions regarding the role of SC in this context have already been documented in another publication.¹⁶ The SEP was incorporated into the study as a separate concept that was anticipated to contribute to the individuals’ survival and resilience. This paper, therefore, provides further analysis of the data collected in the focus group discussions (FGDs) used in the SC study. Slight variations in the wording of the questions simply reflect differences in conversations across and within each discussion.

The FGD method was chosen to foster the exchange of experiences and to capture the interactions among members of the community. Given the circumstances, conducting in-depth interviews would not be suitable.¹⁷ Moreover, the topics under consideration are not of a sensitive nature and can be openly discussed within the focus group.¹⁸

Participant recruitment

Between August and November 2020, a total of 18 FGD sessions were arranged. This period was approximately 6 months after the peak of the first wave of COVID-19, ensuring that participants’ memories of their experiences were still fresh and vivid. These sessions took place in Bangkok and across four provinces that represent distinct regions: Chiengmai for the north, Songkla for the south, Cholburi for the east and Khonkaen for the northeast.

The participants for these sessions were solicited from a pool of 2 million clients who had previously been employed and were beneficiaries of specialised emergency loan programme administered by the government’s Bank of Agriculture and Cooperative (BAAC). This group constituted the most extensive nationwide sample of individuals seeking aid due to the pandemic. The loan provided up to 10 000 baht (approximately US$281) per account, accompanied by a fixed interest rate of 0.35% per month. The repayment period spanned 30 months, with the first 6 months interest-free and no requirement for guarantors.

The provincial offices of the BAAC and the Bank of Thailand worked together to identify the samples by sharing a recruitment message on the LINE application, a group chat platform used by the loan recipients. Inclusion criteria were that a person must be employed prior to the pandemic. Those willing to participate were then screened for the impact level they experienced due to the pandemic. The assessment was conducted through a short questionnaire: ‘How well were you able to handle the impact of the COVID-19 pandemic?’. Responses were rated on a scale from (1) very well, (2) manageable, (3) barely manageable to (4) unable to manage/still not knowing what to do. These responses measured the level of resilience of the participants, with a ‘very well’ response indicating a high level of resilience.

The recruited participants were balanced in terms of gender, location (rural-urban), provinces and the degree of impact they had faced. It is important to note that the snowballing technique was employed in the recruitment in urban areas, as urban individuals were less interested in participating in the study. Thus, some urban sessions had only four to five participants.

In each of the five provinces, four FGD sessions were arranged. Two of the four sessions were for urban habitants, and the other two were for rural. Except for Bangkok Metropolitan, the two sessions were all urban. One of the two sessions in both rural and urban, one was for those who experienced minor impact with scores of 1 or 2, and the other for 3 or 4.

Discussion guide and procedures

The investigators devised question guides for FGD based on the SEP literature. These guides included the following questions: (1) How has the pandemic impacted your living and livelihood?; (2) How effectively did you manage the situation, and what strategies did you employ?; (3) What valuable lessons have you gained from the economic hardships endured during the COVID-19 pandemic?; and (4) What SEP-related insights have you gained or applied to address economic challenges (with probing on moderation, reasonableness, prudence, knowledge and morality)? The investigators facilitated all the FGDs. Each FGDs took an average of 2 hours and 38 min, ranging between 122 and 171 min.

In light of the COVID-19 circumstances during data collection, the sessions adhered to social distancing and pandemic control guidelines. To safeguard confidentiality, pseudonyms were employed instead of real names. The study followed the qualitative research reporting standards suggested by O’Brien et al.¹⁹

Data analysis

The data analysis followed the content analysis approach, as recommended by Kiger and Varpio²⁰ and Braun Clarke.²¹ The investigators carefully reviewed the verbatim transcripts of the FGDs using a predefined coding framework. Key terms associated with each element of the SEP were discussed and reached a consensus among the investigators. Each investigator independently reviewed the transcripts, categorising the content into the subtheme and overarching themes within the dimensions of SEP. To ensure accuracy and consistency, the investigators organised a series of online meetings to engage in discussions regarding the coding process and to finalise the results.

Results

Table 1 provides an overview of the demographic profiles of 161 participants who took part in 19 FGDs. The table also illustrates the pandemic’s impact on them: 55.3% found the impact was manageable, while 34.8% considered it barely manageable, and 9.9% found it impossible to handle. During the discussions, 42 individuals explicitly mentioned the term ‘SEP’, signifying their genuine understanding and awareness of the concept of the SEP. On the other hand, 34 participants made no direct or indirect references to SEP concepts. The remaining participants mentioned some components related to SEP concepts.

Table 1. Demographic profiles of participants.

Characteristics	N (%)	N (%)Rural	N (%)Urban
Gender
Male	72 (44.7)	34 (47.2)	38 (52.8)
Female	89 (55.3)	41 (46.1)	48 (53.9)
Age group
30 and below	45 (28.0)	21 (46.7)	24 (53.3)
31–40	39 (24.2)	17 (43.6)	22 (56.4)
41–50	44 (27.3)	20 (45.5)	24 (54.5)
51–60	24 (14.9)	12 (50.0)	12 (50.0)
61 and older	9 (5.6)	5 (55.6)	4 (44.4)
Education
Elementary school	23 (14.3)	14 (60.9)	9 (39.1)
High school	36 (22.4)	23 (63.9)	13 (36.1)
Vocational school	29 (18.0)	9 (31.0)	20 (69.0)
College and graduate	73 (45.3)	29 (39.7)	44 (60.3)
Size of impact from the pandemic
Very little	4 (2.5)	3 (75.0)	1 (25.0)
Manageable	85 (52.8)	45 (52.9)	40 (47.1)
Barely manageable	56 (34.8)	21 (37.5)	35 (62.5)
Unable to handle/still not knowing what to do next	16 (9.9)	6 (37.5)	10 (62.5)

Moderation

The participants emphasised the importance of moderation in terms of maintaining a balance between income and expenditure. It was stressed that individuals should be mindful of their income generation capacity and limits, as well as existing household debts, which should align with their lifestyle and spending habits while also striving to minimise debt.

Participants acknowledged that, in the current economic climate, it is challenging to entirely avoid borrowing. However, they recognised that borrowing is necessary, such as those expenses for children’s education, housing and vehicles like cars or motorcycles, which are particularly essential in rural areas. Some participants mentioned having taken out mortgages for their homes, requiring continued repayments of interest and capital while experiencing income loss due to job loss during lockdowns.

One participant shared, ‘My kids have to go to school, and I must pay for their allowances and dormitories’. (A., female, young adult, Northeast) Another added, ‘During the lockdown, schools were closed, and students had to attend online classes. I had to buy a tablet for my child because studying via a mobile phone was impractical. Additionally, I needed my phone for business’. (C., female, young adult, South)

For families running small- or medium-sized businesses, debt is unavoidable. However, an overly optimistic outlook and overconfidence can lead to overinvestment, resulting in substantial debt. The impact of COVID-19 and subsequent lockdowns brought an abrupt closure of businesses, while interest payments continued to accumulate.

I am 66 years old, and the bank refused to grant me a loan to reopen my restaurant, one participant shared. So, I took a local unlicensed loan shark with a much higher interest rate. (P., male, senior adult, North)

Participants also emphasised the need for moderation in curbing extravagant spending. The easy availability of credit cards from banks often tempts people to overspend and leave them unable to repay. They admitted that using credit cards provides a sense of ease compared with cash, leading to more frivolous spending. Some individuals, who once had substantial incomes before COVID-19, admitted to being careless and indulgent with non-essential items like designer clothing, international travel and extravagant meals.

‘If I could go back and make changes,’ one participant reflected, ‘I would spend less and be more financially responsible. I wouldn’t buy luxury brands, clothes, or travel excessively. These things are beyond basic necessities. I would also work harder than before.’ (A., female, middle-aged, Northeast). ‘Before all this happened, I was making a lot of money, around 10 000 Baht a week. It just disappeared. I don’t know where it all went’, (A., female, middle-aged, Northeast) another participant lamented.

The COVID-19 lockdowns compelled many people to leave urban areas and return to their rural hometowns. Some realised that living and working in their hometowns could lead to significant cost savings. They no longer had to pay rent or take out mortgages on additional homes, and food supplies were often cheaper, with some even freely provided by their neighbours or from the backyard garden.

Reasonableness

Participants referred to ‘reasonableness’ as the ability to exercise conscientiousness, maintain emotional composure and employ logical reasoning to solve problems and make decisions, especially in challenging situations. Within the context of reasonableness, the sufficient level can vary based on an individual’s economic status. This concept necessitates that individuals assess their circumstances and determine the appropriate response based on the resources at their disposal. Sufficiency does not necessarily imply a frugal or restricted lifestyle; it is contingent on a person’s wealth.

It doesn’t mean that we have to live poorly; it depends on how much we have. You can indulge if you can afford it and have adequately prepared for future uncertainties. If you don’t have much, don’t be tempted to excessively spend. (M., female, middle-aged, North)

Reasonableness is also described as the ability to make decisions by not allowing emotions to misguide the spending decision. Several participants admitted that if they had not lent too much money to friends because of sympathy, they would have had sufficient contingent funds during the COVID-19 lockdown. Reasonableness helps individuals understand their income and career limits, enabling them to plan for the future. For example, entertainers who earn significant incomes while they are young may need to plan for a less lucrative future and consider alternative career paths. Entertainment is income elastic and highly susceptible to the effects of lockdowns. It also reflects a determination to persevere and not give up, even in challenging and disheartening situations. Reasonableness serves as a reminder to set emotions aside, gather oneself and take action.

As a drag performer, I earn a lot of money, no doubt. But after we pass 40 years old, everything will decline. The competition is fierce with young, attractive newcomers appearing daily. We have to think about our next steps and start preparing now. I’m considering opening a beauty salon or bakery, hoping it will support me after my career in entertainment. (C., drag queen, young adult, East)

Adaptability is also seen as an essential aspect of reasonableness. When circumstances require it, individuals must modify their usual routines and adapt to new approaches. This includes altering both their way of life and their business practices.

When our customers suddenly dropped by more than 80%, I decided to downsize my shop to save on rent. Instead of primarily relying on in-store sales, as was our usual practice before the lockdown, I shifted my focus to accepting orders online and providing efficient location-based deliveries to a smaller customer base (explained a participant C., male, middle-aged, North)

Prudence

Prudence in the SEP revolves around cautious financial actions and ensuring financial security and balance between income, expenditure and debts. The COVID-19 pandemic has taught participants that life is fraught with uncertainty and that living carelessly is not a prudent way. Preparedness for and resilience to unforeseen difficulties is essential.

I have been a strong and successful fighter all my life; later, I became too confident and careless. I didn’t prepare for a situation like this. I made a substantial investment and took out a big loan to renovate my restaurant, nearly exhausting all my savings; suddenly, everything stopped. There was no income at all. (C., male, senior adult, North)

Prudence requires good financial planning, which involves projecting income and expenditure for various items. It requires maintaining financial records. Many small business owners tend to overlook proper bookkeeping, which hampers their ability to make informed financial decisions and track expenditures, especially on non-essential items.

I used to make a lot of money, over 10 000 Baht (around US$ 270) a week. It just slipped away; I had no idea where it went. It turned out I was spending it on silly items and activities, leaving me with no savings at all. (N., male, adult, Bangkok)

Sales were strong, and the business seemed to be doing well before the pandemic. I didn’t realize it was running at a loss until I started the bookkeeping. After that, I made significant changes, including renegotiating with suppliers, reducing electricity usage, and cutting down on personal expenses. (W., female, middle-aged, North)

Financial planning also involves savings. The COVID-19 crisis has underscored the importance of cultivating a savings habit to provide a safety net for unforeseen events. Most participants agreed that without some savings, their lives would have been significantly more challenging. For those lacking sufficient savings, they recognised the need to save more consistently, systematically and with discipline to secure their family’s future and invest wisely.

Savings are a significant lesson from COVID-19. If I could turn back time, I would save more and spend less; life would be much better than this. (S., female, middle-aged, Northeast)

I ran a street food vendor in a market. When the market closed down, I knew I had to find a new business. Saving is crucial to starting a new venture. (A., male, middle-aged, South)

Another aspect of prudence frequently mentioned by participants is securing additional sources of income. Participants recognised that relying solely on one job is not only risky due to unexpected disruptions like COVID-19, which can permanently or temporarily take away employment but also because a single income may not suffice. Online jobs, such as online marketing and sales, content creation and game streaming, were commonly mentioned as intriguing options for income diversification. It is noteworthy that family responsibilities push the decision to seek supplementary employment.

I cannot just sit still and wait for help. I have to take care of my family and my kids. After I lost my job, I started learning how to sell products online. (N., female, adult, East)

When the COVID-19 situation improves, I’ll return to work in the hotel industry. I love hospitality jobs. But I must have another source of income. I no longer trust relying on just one. I’m considering online business, like selling organic products. (P., male, adult, South)

I have a direct sales job. During COVID-19, sales plummeted. Thankfully, my secondary income came from my rice field. If I can’t sell all the rice, we’ll simply consume it ourselves. I also explore local products, such as locally made clothing, and post them for sale online. It’s not safe to rely on a single income source. (Emphasised by B., female, middle-aged, South)

Knowledge

Participants emphasised that knowledge and skills are the foundation, especially in generating new or supplementary income when their current jobs are disrupted. It was essential to learn new skills that unlocked new opportunities. The impact of COVID-19 compelled them to seek alternative sources of income, often necessitating the acquisition of new skills, reskill and the courage to venture beyond their comfort zones.

I am always excited to learn new things. In a way, I’m grateful to COVID-19 for pushing me to explore new avenues. After losing my job at the garment factory, I began crafting cloth dolls. I’ve always enjoyed working with fabric and used to dabble in small crafts for fun. But I had to learn more about how to turn it into a small business. Now it’s my new source of income. It may not be as stable as a salary, but at least I can keep up my family. (P., female, adult, South)

My construction job was gone due to the lockdown. My family owns a small coconut farm that has been neglected for a long time. I’m trying to establish a small coconut milk processing factory. It’s entirely new to me, but I'm enthusiastic about learning. (B., male, middle-aged, South)

Social media supports learning new skills. Participants acquired new ideas, knowledge and skills for their new careers through platforms like YouTube. While traditional training centres and educational institutions were closed during the lockdown, free online lessons with diverse subject matters were readily available on YouTube. Additionally, social media served as a marketplace for the promotion and sale of new products.

The jewelry shop closed. I had worked there for 30 years and had experienced various crises, but nothing quite like COVID-19. Business had slowed down at times but had never completely shuttered. My grandson adores Japanese sushi, so I had the idea to small sushi and set up a sushi stand near schools. I learned how to make sushi from YouTube. (P., female, middle-aged, the East)

My granddaughter patiently taught me how to use a mobile phone for taking quality photos and creating videos. Now I can capture images and videos while cooking and sell them through LINE (a chat application). (P., female, senior adult, South)

Morality

Surviving the hardships of the pandemic also demands mental strength. Participants emphasised that they drew strength from their positive personal values, with one of the foremost being their fighting spirit and refusal to give up. COVID-19 struck suddenly, leaving no time for preparation. Many participants recounted how they lost their jobs and income abruptly as curfews and lockdowns shut down nearly all businesses. Those in informal sectors, private firms and daily wage earners found themselves without employment and income almost overnight, except for government employees with stable monthly salaries. In such circumstances, summoning inner strength became essential. Participants stressed the importance of refraining from fruitless questions about when the situation would improve, clinging to false and indefinite hope and allowing emotions to dominate without taking action. They emphasised the need for patience and resilience.

I told myself to stay conscious, focus on prioritizing problems, and tackle them one at a time. I had to mend my mental state and uplift both myself and those around me daily. I reminded myself that I needed to persevere and survive. (T., male, middle-aged, Northeast)

A sense of responsibility also served as a powerful internal motivation to keep in good spirits. The responsibility for children, elderly parents and individuals under one’s care was frequently cited as a reason to boost their strength and to persevere. It was striking to observe how the well-being of others drove individuals to fight through the pandemic’s hardships.

When I learned that I had been laid off, the first thing that flashed through my mind was my son’s face. He’s only 8 years old. When I returned home, he ran to me with a big smile, and I knew I couldn't give up. (K., male, adult, South)

I couldn't simply abandon my boss and teammates, even though our pay had been cut by more than half. We discussed how we could help reduce costs to keep the business going. (D., female, middle-aged, East)

Another crucial virtue the participants mentioned as vital to survival was adaptability when it required new knowledge and skills. The pandemic caused disruptions that either ended or restructured many jobs. Adapting to this situation required new skills in finding and training for other job opportunities. Many of these jobs were unfamiliar, required extensive learning and retraining and might have carried an inferior image.

I accepted any job offer, even if it was below my qualifications. I let go of my pride. It was embarrassing, but I needed income. Working as a cashier one day and as a house cleaner the next was not easy for me. (D., female, middle-aged, East)

Contrary to conventional understanding suggesting that hardships lead to selfishness as resources dwindle, COVID-19 created an atmosphere of compassion. Participants remarked that while they felt sorry for themselves due to their adverse circumstances, they also empathised with others facing similar challenges. Those who were less affected endeavoured to support those more severely impacted. Community leaders played pivotal roles in mobilising and coordinating efforts to support one another.

I witnessed people in the community coming together even more strongly than during normal, happy times. I was impressed to see individuals who had never participated in community activities joining the (community) committees and asking how they could help. (M., male, middle-aged, South)

I received some financial aid from the local government. I used it to prepare food and shared it with my neighbors. It’s a time for mutual support. (P., 47-year-old female, South)

With a shortage of facial masks in the market, housewives in the community gathered to create reusable, washable masks from scrap cloth they had at home and distributed them to people for free. (P., female, senior adult, South)

We provide guiding questions, sample quotes from participants, extracted codes and SEP themes in online supplemental table 1.

Discussion

This study highlights the economic shock posed by the COVID-19 pandemic at the individual level, revealing that its negative effects were widespread. Those at the bottom of the economic pyramid were disproportionately affected, experiencing the most severe hardships. This study provided empirical evidence that SEP has been applied and adapted by participants to cope with the adverse outcomes of the pandemic by boosting individual and community resilience. Though studies show SEP has been employed in normal circumstances and has seldom been used to investigate during crises, except during the 1997 Asian Crisis,²² making this investigation importantly unique. It is noteworthy that the study reaffirms the indispensable role of SEP during adversity, shedding new light on its relevance beyond normal settings.

Challenges of consumerism and high household debt

The mainstream culture of consumerism entices individuals, especially those with limited financial means, to abandon the principle of moderation, leading them towards unsustainable spending habits. The costs associated with non-essential items induce many individuals to borrow from local moneylenders with high interest rates and inability to repay. These financial burdens make it more difficult for them to live a debt-free life, despite attempts to exercise financial prudence.²³ Thailand high household debt, at 85.7% of GDP in 2022, stands well above major ASEAN economies though is comparable to advanced economies. The composition of household debt warrants particular attention due to the large share of uncollateralised lending that does not require any collateral or security from the borrower.²⁴

Interconnections among the SEP components

The findings highlight the interconnectedness of the three fundamental components of the SEP—moderation, reasonableness and prudence—along with the two supporting conditions of knowledge and morality. This contrasts with most studies, which tend to explain these components in isolation (eg, 10 25).

Though the SEP literature provides conceptual interconnections but offers limited practical illustrations²⁶; the qualitative approach of this study addresses this gap, elucidating the practical implications of these interconnections. For instance, the practice of moderation in consumption and investment necessitates prudence, which involves careful financial planning and oversight of income and expenditures to justify one’s commitment to moderation. Additionally, the cultivation of saving habits and frugal lifestyles, a critical element of prudence, enables individuals to strengthen and diversify their financial resources for future investment and to safeguard against future risk, reinforcing the nexus between moderation and prudence, with knowledge as the linchpin.

SEP in actions

Reasonableness is a crucial mechanism for adjusting the degree of moderation, as it accommodates individual variability in this regard. In consideration of the fact that the threshold for moderation differs from person to person, reasonableness serves as a rationalising tool for self-assessment.²⁷ It demands conscientiousness and logical reasoning, requiring a clear understanding of one’s limits and available resources. Reasonableness further aligns with prudent actions, promoting a realistic outlook, especially with respect to volatile career prospects and income streams, thereby encouraging individuals to seek secondary income sources as a form of preparedness; all of which requires knowledge and learning new skills.

The role of morality embedded in SEP is intriguing, as it ensures that all decisions and actions remain decent and benevolent. Morality encapsulates positive attributes of human character, guiding individuals’ conduct to avoid causing harm to others. In broader terms, it fosters a compassionate, supportive and peaceful societal milieu while also facilitating responsible resource consumption and preservation to save the planet and promote sustainability.²⁸ Morality extends to encompass principles of work ethics and indomitable spirit that are indispensable for personal resilience, as well as compassionate and altruistic disposition, which contributes to community resilience.²⁹

Regarding knowledge, this study illuminates the rising potential of social media and online platforms. The convenient acquisition of knowledge is predominantly facilitated through online channels, most notably Google and YouTube. This newfound knowledge is often harnessed to reskill, acquire new skills, explore alternative career and market opportunities, and make additional sources of income. Additionally, social media and online platforms function as marketplaces where individuals can both advertise and sell products and services. For many people, venturing into and capitalising on social media and online platforms for commercial purposes is a form of knowledge in its own right.³⁰

It is particularly interesting to observe that the economic adversity during the pandemic has offered valuable lessons for many people. It has prompted individuals to recognise the significance and practical utility of SEP. Many have expressed a desire to recalibrate their actions, advocating for more moderate approach to spending and investment and cultivating a disciplined saving habit, building self-immunity against future shocks and exerting reasonableness in making decisions and taking actions. Figure 2 summarises the participants’ responses on how they survived the COVID-19 pandemic in Thailand, using the SEP framework.

Figure 2. Application of the sufficient economy philosophy in response to the COVID-19 pandemic in Thailand.

Strengths and limitations of this study

This study presents several notable strengths and limitations. Data collection occurred at a pivotal time, immediately following the first wave of COVID-19 and at the onset of the second wave, capturing participants’ experiences, while their memories and reflections were still fresh and vivid. Despite the ongoing challenges of the pandemic, the study successfully involved a large number of participants from various regions, forming focus groups that provided a wide range of insights. Notably, it stands out as one of the few qualitative studies with such extensive geographical coverage, whereas previous research has been limited to case studies focusing on a single corporation,³¹ surveys with small sample sizes⁴ or conceptual papers.⁵ As a qualitative study, it is inherently subject to limitations like subjective biases. Nevertheless, the FGDs have offered valuable insights into how the model can be effectively applied within communities facing significant economic challenges. Additionally, while the SEP is qualitatively supported in this research, it is important to acknowledge that SEP is predominantly recognised and practised in Thailand. For SEP to be applicable in other contexts, appropriate adaptations would be necessary to account for the unique social and economic conditions of different countries.

Policy recommendations

Drawing from the results of this study, we suggest the following recommendations.

First, public policies should focus on strengthening individual and community resilience, which is essential for ensuring sustainability, especially during times of crisis. As the study highlights, SEP has been proven effective in helping individuals cope with economic challenges during the COVID-19 pandemic, especially for those at the bottom of the economic pyramid. Extending the SEP approach to broader populations could build long-term community resilience and sustainability.

Second, there is a need for policies focused on improving financial literacy and promoting prudent borrowing habits. Educational campaigns could emphasise the importance of moderation and reasonableness in financial decision-making, helping individuals avoid excessive debt and high-interest borrowing practices. Low-income households often resort to informal debt due to a lack of asset guarantees. A conservative estimate of 50 billion baht of informal debt,³² often with an interest rate of 5–20% per month (60–240% per annum), compared with the maximum 36% per annum interest rate by financial institutions.³³

Third, policymakers should emphasise the role of morality and ethics in economic development, as SEP does. Encouraging ethical behaviour and social accountability in businesses and markets and fostering community support systems can enhance both individual- and community-level resilience. This could include promoting ethical lending practices and encouraging businesses to act in ways that benefit society as a whole. Corporate social accountability holds companies responsible for operating ethically and sustainably, balancing profit with social and environmental impact. It emphasises transparency, ethical labour practices, responsible resource use and community engagement, aiming to align business success with societal well-being.³⁴

Future research

Conducting longitudinal studies at the individual level in diverse and broader contexts would further enhance the applicability of the SEP. Further studies may also focus on understanding the applicability of SEP and other enabling factors, especially the management of informal debt trap, to boost the low level of resilience among people and communities living in vulnerable situation. Additionally, future research should focus on exploring the intersection of SEP with public health policies, especially during times of crisis. Understanding how economic principles can inform health policies to strengthen community resilience could yield valuable insights for policymakers.

Conclusions

This study accentuates the important role of the SEP in bolstering the resilience of the Thai populace amidst various challenges posed by the pandemic. Not only does it reaffirm its relevance and applicability in times of crisis, but also it illustrates how individuals and communities adapted, applied and transcended beyond the conventional SEP boundaries. Furthermore, it underscores SEP’s efficacy in fostering sustainable resilience at the individual and community levels. In a world with constant threats of public health emergencies and disasters, there arises a pressing need to harness the potential of SEP as one of the key strategies for sustainable resilience.

Data availability statement

Data are available upon reasonable request.