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Published on July 31, 2007

A survey by the credit-card company found that students believed local companies would compete internationally on innovation, creative design and branding instead of low labour costs.

MasterCard economist Yuwa Hedrick-Wong said 45.3 per cent of respondents agreed local companies would rely on their own product design and brand creation. And 32.5 per cent said there would be an emphasis on technology-led innovation.

The survey was conducted among 240 respondents from Chulalongkorn and Thammasat universities.

They expect those local brands most likely to be internationally competitive 10 years from now to be Charoen Pokphand, Chang, Red Bull, One Tambon One Product and Singha.

Most of the students, 32 per cent, hope to start their own businesses after graduation. Another 6 per cent plan to work in their family firms.

"The data reflect that the economic scenario in the future may be changing. Small and medium-sized enterprises will be the key factor driving the country's economy," Yuwa said.

He recommended the data to the government for economic- and employment-policy development and to the private sector for future businesses strategies.

Most respondents, 72 per cent, believed the economic outlook for the next decade suggested growth of 4-6 per cent a year, similar to the average growth in the past few years. Sixteen per cent predicted higher growth and 12 per cent lower.

The students expect to earn a monthly salary of Bt50,001 to Bt100,000 within 10 years. They expressed an intention to pursue graduate studies, with 56 per cent hoping to go abroad.

The respondents saw China as the biggest economic threat to Thailand, particularly in exports.

Somruedi Banchongduang

The Nation