| Abstract | This study intends to analyze the road crash costs in Thailand by applying human capital
approach. In addition, this study attempts to determine the economic losses due to two
well-known holidays in Thailand, the typical year end holidays, the New Year Festival
2004 and the Thai traditional holidays, the Songkran Holidays 2003.
As a representative of national figure, the economic losses due to road crashes in 2002
were 139,235 million Baht or 2.56 percent of Gross Domestic Product (GDP) at that year.
These represented the present value of lifetime costs for 13,290 fatalities, 952,348 nonfatal
injuries, and approximate 736,000 damaged only crashes. Human costs accounted the
largest component for 40,214 million Baht of these total while property damage costs
accounted for nearly as much 39,814 million Baht. Lost output accounted for nearly as
much 38,950 million Baht. Hospital and medical expenses totaled 19,390 million Baht,
while emergency medical service accounted for 362 million Baht. Moreover,
administration costs of insurance as well as police accounted for 356 and 148 million Baht,
respectively. Each fatality resulted in an average discounted lifetime cost of 3.05 million
Baht, while average costs per serious injury as well as per slight injury were 0.20 and 0.03
million Baht, respectively. Additionally, total economic losses on New Year Holidays
2004 as well as Songkran Holidays 2003 were estimated to be 7,487 and 5,959 million
Baht, respectively.
Furthermore, "Road Crash Cost Computerized Package" was also developed to be a
supplementary tool to evaluate road crash costs simply and instantly. This software was
finally validated through real world application of road crash assessment in Khon Kaen as
provincial scale. Therefore, it ensures that this package can be applied to estimate the
economic losses due to road crashes of any situation in Thailand. |