Social Return on Investment assessment in Quality of Life and Grassroots Economy Development Project, Lamphun Province

Abstract

Background and Objectives: This study aimed to evaluate the Social Return on Investment (SROI) of the Quality of Life and Grassroots Economy Development Project in Lamphun Province, Thailand. The evaluation sought to assess the social value generated by the project and provide information to support the development of sustainable grassroots economic initiatives.
Methods: The impact assessment focused on Dong Dam Subdistrict, Li District, Lamphun Province. A total of 53 stakeholders were purposively selected to participate in the study. Qualitative data were collected through in-depth interviews with community leaders and local government executives, together with focus group discussions involving occupational groups and older adults. The analysis was based on the SROI framework and incorporated the Theory of Change to identify the impact value chain. Financial proxies were assigned to outcomes that lacked direct market prices, and impact adjustments were applied to distinguish net benefits before comparing them with the actual investment costs.
Results: The findings indicated that the Quality of Life and Grassroots Economy Development Project achieved an SROI ratio of 1:4.45, meaning that every Thai Baht invested generated an estimated social return of 4.45 Baht. Social outcomes accounted for 88% of the total value generated, based on the project's implementation from 2019 to 2024. The principal sources of social value were enhanced self-reliance among older adults and the accumulation of community social capital. These findings highlight the importance of considering social outcomes alongside direct economic benefits when evaluating community development initiatives.
Application of this study: Strategic policy agencies should promote the development of distinctive identities and value-added products for local communities while establishing continuous SROI assessment systems. The resulting evidence can be used to improve project management and support the long-term sustainability of the grassroots economy. Furthermore, evaluation findings should inform project development strategies and the formulation of social outcome indicators suited to local contexts. These measures can improve resource allocation, encourage public participation, and promote the equitable distribution of benefits among stakeholders, thereby strengthening community capacity and supporting sustained grassroots economic development.
Conclusions: Investment in the Quality of Life and Grassroots Economy Development Project generated substantial economic and social value for the community. The returns extended beyond direct financial benefits, particularly through strengthened community social capital and increased self-reliance among older adults. The findings suggest that developing human potential alongside strengthening community networks is essential to generating sustainable positive impacts at the local level. These findings also provide guidance for improving future community development policies and practices.