Thailand not only boasts relatively low labor costs, ranging from $6.75 – 9.75 per day for minimum wage, but also has an exceptionally well-educated workforce. Each year, 61 public and private universities graduate more than 18,000 engineering graduates and approximately 87,000 general science and technology students. And with literacy rates at an uncommonly high rate of 96%, investors can be certain that employees in Thailand will be some of the most educated in Asia.
The Thai government is aware of the need to support the continued development of the technological capabilities of its workforce and established a Human Resources Development Plan, which is designed to ensure an abundant supply of qualified personnel for high-tech jobs in all of Thailand’s core industries.
More specifically, the Thai Government Science and Technology Scholarship Program is designed to generate a critical mass of scientists and academics in 6 major fields—biotechnology, material science, computer science, nanotechnology, basic science, and technology management—to supply to universities, research institutes, and government agencies with world-class talent.
Thailand is home to over 37,000 educational institutions and 20 million students and outpaces Asian neighbors such as India and Indonesia in the number of universities. Educational institutions prioritize teaching many curriculum subjects in full or partial English. An emphasis on laboratory work and target to produce 50% technology and science majors, means an educated workforce.