Chinese investment reshapes Thailand’s higher education landscape
While the influx boosts the country’s appeal as an education hub, the government is tightening oversight to ensure transparency and maintain standards
Chinese investment is reshaping Thailand’s private higher education sector, offering both opportunities and challenges amid demographic shifts and evolving market dynamics.
The influx of Chinese capital into Thai universities coincides with a decline in domestic student numbers, prompting institutions to seek new revenue streams and international partnerships.
Thailand’s Ministry of Higher Education, Science, Research and Innovation (MHESI) acknowledged this trend, noting significant Chinese investment in universities like Krirk, Shinawatra, and Stamford International.
This development comes as Thailand grapples with a declining birth rate, impacting student enrolment. The National Economic and Social Development Council reported that in 2024, the number of births in Thailand fell to 461,421, the lowest in 70 years.
The appeal of Thai universities to Chinese investors is multifaceted. Dr Kannita Suchao-in of Rangsit University highlighted factors such as geographical proximity, the desire to cater to Chinese students seeking overseas education due to intense competition at home and the comparative cost-effectiveness of Thai private education.
“Chinese investors are drawn to universities in and around Bangkok, where transport is convenient and Chinese communities thrive,” she said.
Data from the ministry indicates a substantial rise in Chinese students in Thailand. Krirk University, for instance, reports that 71% or 4,670 of its students are Chinese. Similarly, 79% or 863 of Shinawatra University’s students are Chinese.
Across the sector, Chinese students now constitute a significant portion of international enrolments, surpassing those from neighbouring ASEAN countries.
Specifically, there are 21,828 Chinese students in Thailand’s top 20 universities.
Surachet Kongcheep of Cushman & Wakefield Services (Thailand) noted the rapid growth in Chinese student numbers, which have risen by 24% since 2020.
“This influx is driven by both student demand and Chinese investment in Thai educational institutions,” he said.
However, the growing influence of Chinese investments has raised concerns about oversight and quality assurance.
Dr Supachai Pathumnakul, MHESI permanent secretary, emphasised the need for stringent monitoring of foreign investment in private universities.
“We are closely scrutinising the origin of investment funds and ensuring that educational standards are maintained,” he said.
MHESI is considering measures akin to those used for foreign business permits and bank licences, requiring detailed verification of funding sources and shareholder qualifications. This aims to prevent nominee shareholding and ensure transparency.
Despite the challenges, Dr Supachai acknowledged the potential for Chinese investment to enhance Thailand’s position as a regional education hub.
“We aim to attract high-quality international students and foster collaboration with leading institutions,” he said, citing the “Study in Thailand” initiative.
Dr Thanawat Phonvichai, president of the Association of Private Higher Education Institutions of Thailand, considers Chinese investment as a significant opportunity for development.
“It can enhance teaching quality and attract international experts,” he said, while stressing that universities with Chinese investment must adhere to Thai regulations.
The trend reflects a broader pattern of business adaptation, similar to foreign-owned international schools. MHESI is likely to encourage world-renowned universities to establish branches in Thailand, further enhancing the country's educational landscape and meeting the growing demand for quality higher education.
