Thailand Analysis
Demographic
Thailand’s population registered at 68.2million in 2013. Because of their middle class growth, this has presented greater opportunities for New Zealand education providers. These opportunities are in response to a growing trend in Thai students, as more of them are seeking to undertake international tertiary education.
24,491 Thai student studied overseas in 2012, with only 2% of them studying in New Zealand. The alternate countries Thai students chose were, the United States, the United Kingdom, Australia, Japan and Malaysia. For New Zealand, Thailand can be a small but important source of international students, as Thai students account for approximately 3.3% of the international student population in New Zealand, …show more content…
This is because students are looking to improve their English language skills. This is coupled with Thailand’s demand to improve their English capability of their schoolteachers and leaders. Coupled with this increase demand for skilled workers, this presents particular opportunities for Institutes of the Technology or Polytechnics. This provides opportunities for ITPs to form partnerships with Thai institutions and industries. Furthermore Thai universities are seeking to establish partnerships with international providers and institutions to better increase the quality and output of their research, also to enhance their international profile further. Furthermore the cost of a bachelor degree in Thailand starts from the equivalent of around $5000 NZD which makes it relatively equal to New Zealand (Werner, 2011). Secondly Thailand’s rent prices are 50% lower than New Zealand, coupled with average grocery prices are around 39% lower than New Zealand (NUMBEO, …show more content…
Because of this there will be opportunities for New Zealand education institutes to offer courses either using partnerships with Thai institutions or through branch campuses established in Thailand.
However foreign institutions must meet Thai accounting and auditing requirements. These requirements mean that companies must produces annual accounts. Secondly annual statutory returns must be approved by the annual general meetings of the shareholders within four months from the years end and filed with the Ministry of Commerce within one month from approval by the annual general meeting. Following this, corporate income tax returns and audited accounts should be filed with the Revenue Department within 150 days of the entity 's year-end. Bookkeepers must be degree qualified, must also be Thai residents, proficient in the Thai language and be registered with the Federation of Accounting Professional. Entries may be done in English, but with an appended Thai language translation. Computerised accounting systems should be registered with the Ministry of Commerce and the Revenue Department. A Thai CPA must audit all companies, entities and representative offices,
Demographic
Thailand’s population registered at 68.2million in 2013. Because of their middle class growth, this has presented greater opportunities for New Zealand education providers. These opportunities are in response to a growing trend in Thai students, as more of them are seeking to undertake international tertiary education.
24,491 Thai student studied overseas in 2012, with only 2% of them studying in New Zealand. The alternate countries Thai students chose were, the United States, the United Kingdom, Australia, Japan and Malaysia. For New Zealand, Thailand can be a small but important source of international students, as Thai students account for approximately 3.3% of the international student population in New Zealand, …show more content…
This is because students are looking to improve their English language skills. This is coupled with Thailand’s demand to improve their English capability of their schoolteachers and leaders. Coupled with this increase demand for skilled workers, this presents particular opportunities for Institutes of the Technology or Polytechnics. This provides opportunities for ITPs to form partnerships with Thai institutions and industries. Furthermore Thai universities are seeking to establish partnerships with international providers and institutions to better increase the quality and output of their research, also to enhance their international profile further. Furthermore the cost of a bachelor degree in Thailand starts from the equivalent of around $5000 NZD which makes it relatively equal to New Zealand (Werner, 2011). Secondly Thailand’s rent prices are 50% lower than New Zealand, coupled with average grocery prices are around 39% lower than New Zealand (NUMBEO, …show more content…
Because of this there will be opportunities for New Zealand education institutes to offer courses either using partnerships with Thai institutions or through branch campuses established in Thailand.
However foreign institutions must meet Thai accounting and auditing requirements. These requirements mean that companies must produces annual accounts. Secondly annual statutory returns must be approved by the annual general meetings of the shareholders within four months from the years end and filed with the Ministry of Commerce within one month from approval by the annual general meeting. Following this, corporate income tax returns and audited accounts should be filed with the Revenue Department within 150 days of the entity 's year-end. Bookkeepers must be degree qualified, must also be Thai residents, proficient in the Thai language and be registered with the Federation of Accounting Professional. Entries may be done in English, but with an appended Thai language translation. Computerised accounting systems should be registered with the Ministry of Commerce and the Revenue Department. A Thai CPA must audit all companies, entities and representative offices,