THE IMPACT OF THAI EXCHANGE RATE FLUCTUATIONS ON FURTHER EDUCATION FOR STUDENTS FROM CHINA

Abstract

This paper analyzes how changes in the Thai baht (THB)–Chinese yuan (RMB) exchange rate alters the economic capacity of Chinese families to finance tuition, accommodation, and living expenses for study in Thailand. Using a quantitative survey of 400 Chinese students and a validated instrument (overall Cronbach’s α = 0.85; economics domain α = 0.87), we combine descriptive evidence—exchange‑rate salience (mean = 3.80, SD = 0.60), tuition cost importance (mean = 4.20, SD = 0.50), and cost‑of‑living importance (mean = 3.90, SD = 0.70)—with a pass‑through framework for THB‑denominated budgets. When expenses are priced in THB, a proportional appreciation of the baht increases RMB outlays one‑for‑one; the aggregate effect depends on the share of the student budget exposed to THB. We operationalize this mechanism against the sample’s income structure (46.75% report 5,001–10,000 CNY monthly) and propose practical levers—payment timing, price‑locking, and micro‑hedging—to attenuate exposure without altering academic choices. Findings reinforce the human‑capital investment perspective and inform risk‑aware actions by families, universities, and policymakers.This study's focus on Chinese students in Thailand is particularly relevant given the growing importance of cross-national educational policies, especially in light of shifting economic dynamics and international student flows in the ASEAN region.Sampling bias was controlled through a diverse recruitment process across multiple geographic regions in China, ensuring a broad representation of the target student population.The findings have broader implications for ASEAN regional education policy, emphasizing the need for coordinated measures to mitigate the financial impact of currency volatility on international students.