English is widely regarded as an essential skill for the globalized economy by governments around the world which devote considerable resources to its teaching in formal education, though often with limited success in terms of achievement levels. Thailand is a case in point. Set against the putative benefits of acquiring proficiency in English, concerns have been raised that the spread of English has a negative impact, threatening the vitality of the first languages and cultures of its learners. Examining whether these concerns are valid in Thailand, this article reports on a study amongst Thai university students which investigated their perceptions of English alongside their first language, Thai. Results indicate that these Thai students subscribe to the notion of English as a tool for personal economic advancement but that the position of Thai as the language of national identity remains unchallenged.