Challenges facing Thai higher education institutions financial stability and perceived institutional education quality

Thailand 4.0 is an ambitious reform strategy that seeks to offset the impact of the Thai aging population by transitioning the economy towards a knowledge-based society skilled in advanced technology. Education reforms are paramount for Thailand 4.0 to succeed; however, significant challenges exist that draw into question the capabilities and quality of the nation's higher education institutions. The low perceived quality can be attributed to government inefficiencies, pronounced education inequality between rural and urban students, declining K12 students' core curriculum performance, and a growing dependence on international students to support higher education institutions' financial stability. This paper discusses the numerous challenges limiting higher education institutions from achieving an improved perception of academic quality both domestically and abroad. The recommendations proposed highlight the need for additional government oversight and educational funding. National and regional education policies must be promoted in a clear, consistent, and measurable method, emphasizing short, medium, and long-term goals. Improved national examinations and institutional collaboration will further support the necessary step to address festering conditions limiting any meaningful transition towards a knowledge-intensive workforce.