With a growing number of foreign visitors and foreign investors in Indochina, Wall Street English (Thailand) Co, the operator of the language learning centre, plans to quadruple the number of students attending its English learning centres in five years.
Matthew Kichodhan, the company's chairman, said the number of Wall Street English branches is projected to rise to 61 in five years from 15 now.
Wall Street English Thailand Co is owned by SET-listed Wave Entertainment Plc, which launched the English-language learning centres in Thailand in 2014.
Mr Matthew said 46 new Wall Street English branches will be opened to cash in on the growing demand for English learning centres in Cambodia and Laos, which are among the key destinations for foreign investors, particularly from China, Japan and South Korea.
Thailand has more demand for language schools, particular in the eastern region driven by the government's flagship Eastern Economic Corridor (EEC) scheme.
Of the 46 new branches, 39 are scheduled for Thailand, both via a franchise system and the company's own investment, leaving seven branches for Cambodia and Laos.
The expansion into neighbouring countries will be under the franchise system.
"We will also start to expand via the franchise system for the first time in Thailand this year. Some Wall Street English centres will be opened in Rayong, Chon Buri and Pattaya because these provinces require a more skilled workforce," he said.
"Khon Kaen is also in the pipeline because of the large number of university students there.
"Demand for English-language centres in the eastern region is huge, not only because of the EEC scheme, which will make the area a logistics and IT hub, but also because of strong tourism business."
Mr Matthew said the company expects sales growth of 15% this year from 700 million baht last year. The company is extremely bullish on next year, forecasting 1.5 billion baht in sales.
"The growth rate is slower this year compared with 33% growth last year because of the country's economic dip and relatively low purchasing power," he said.
Mr Matthew urged the new government to help subsidise student loans, allowing students to pay the loan back once they get a job and develop English skills as civil servants.
