Human Capital Investment in Science and Technology Education and Quality of Life in Thailand


Investment in education is a vital factor for the development of both individuals and the whole country. In Thailand, people have attempted to increase their human capital in terms of academic knowledge by studying in university as well as entering higher education with the expectation for higher wages and salaries, and a better quality of life. The Thai government has implemented policies to improve equitable quality education and the opportunity to access it. Moreover, the national education plan 2017-2036 is the ultimate goal to be achieved. In the digital economy era, science and technology majors have been important aspects of driving the country. Many students decided to study science and technology. This research uses secondary data from the National Statistical Office of Thailand and other related data sources to investigate the first-year income and the rate of return on studying in science and technology majors. The results showed that, in 2022, new graduates from science and technology fields earned wages and salaries higher than the poverty line and the minimum wage of Thailand. Most of them have a high quality of life. However, the high return comes with high responsibility as well. As analyzed, this research suggests that the government should focus on education improvement for people to enhance their labor productivity and quality of life.

Author Information
Narissara Charoenphandhu, Rangsit University, Thailand
Thoedsak Chomtohsuwan, Rangsit University, Thailand
Shanisara Chamwong, Rangsit University, Thailand

Paper Information
Conference: ACE2023
Stream: Education

This paper is part of the ACE2023 Conference Proceedings (View)
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To cite this article:
Charoenphandhu N., Chomtohsuwan T., & Chamwong S. (2024) Human Capital Investment in Science and Technology Education and Quality of Life in Thailand ISSN: 2186-5892 The Asian Conference on Education 2023: Official Conference Proceedings
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Posted by James Alexander Gordon