For many countries, the mobility of international students is becoming increasingly critical in the global trend of internationalization of higher education and migratory patterns. This paper aims to: (1) review the concept of internationalization of higher education from various perspectives;(2) review the internationalization of higher education in the context of ASEAN; (3) identify the success factors for internationalization from the lessons learned from popular receiving countries; (4) discuss the case of internationalization of higher education in Thailand; and (5) provide recommendations for the same. The paper suggests that even though the number of international students enrolled in Thai institutions increases over time, much more can be done to attract international applicants. From the perspective of Thai institutions, in a competitive environment of international education in the ASEAN context, the Thai government policy and programs need to be improved to attract and retain international students. The key success factors of internationalization in higher education consist of the international environment within the institution, the institution's reputation for quality and cost of education, and the institution's capabilities to service and support international students.