Thailand has been experiencing a continuous decline in population for a long time, leading to decreased sales of consumer goods and lower demand for housing. This trend is evident from the declining growth in the buying, selling, and transferring of ownership of both new and second-hand properties. Real estate developers, who previously focused solely on residential projects, have had to diversify into other businesses, both related and unrelated to real estate.
Source: The Office of the Private Education Commission (OPEC)
Successful business groups and entrepreneurs, who once invested in office buildings, hotels, and resorts, are now particularly interested in developing international schools. This shift caters to families who want their children to receive a high-quality education. With fewer children per family, parents are increasingly seeking better education, especially in foreign languages and alternative education systems. International curricula, either directly from foreign schools or adapted for use in Thailand, have become attractive options for affluent families who prefer not to send their children abroad due to costs and other concerns.
Additionally, there has been a noticeable increase in students from neighboring ASEAN countries and other regions, particularly China, attending international schools in Thailand. This trend has been driven by issues with international schools in China and the relatively lower costs of international schools in Thailand, which still maintain high standards comparable to Western countries.
Over the past decade, various business groups, entrepreneurs, and educational institutions have continuously invested in international schools. Some have made international schools a significant part of their revenue streams, seeking opportunities to expand through new developments or by taking over struggling schools. Notable examples include:
- Bangkok Bank Group (Sophonpanich family): Besides banking, they have invested in real estate and international schools like Shrewsbury International School.
- CP Group (Chearavanont family): They operate Concordian International School, founded by Khun Vanee Chearavanont Ross.
- BTS Group (Kanjanapas family): They opened Verso International School in collaboration with Fortune Hand Ventures Limited from Hong Kong.
- Saha Pathanapibul Group (Chokwatana family): They invested in King's College International School Bangkok.
- Paladechpong family: They founded Denla Group and recently opened DLTS International School.
- Mallika Interfood Co., Ltd. and BGT Corporation Public Co., Ltd. (Thammawattana family): They developed Thai International School.
- Ocean Life Insurance Co., Ltd. (Assakul family): They operate St. Stephen's International School in Khao Yai and Bangkok.
- R2D1 Co., Ltd. (Pensiri Thongsima): They opened BASIS International School Bangkok.
- Thaya Teepsuwan and partners: They developed Rugby School Thailand in Chonburi.
- Dhurakij Pundit University (Dr. Darika Lathapipat): They opened Wellington College International School Bangkok.
- Country Group Development Public Co., Ltd. (Techaubol family): They plan to develop Rama 3 International School as part of a mixed-use project.
- Ornsirin Holding Public Co., Ltd. (Buranupakorn family): They are developing Mill Hill International School.
- Siam Motors Group (Pornprapha family): They plan to open Highgate International School near Siam Country Club in Chonburi.
There may be other companies, investors, or families planning to develop international schools in Thailand, but they have not yet announced their plans. From 2017 to 2024, the expansion rate of international schools in Thailand has been around 5% per year, with a noticeable increase in international schools outside Bangkok. These schools cater not only to Thai students but also to expatriates and foreign investors' children.
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