While there is a wealth of literature about globalization of higher education in the Anglo-saxon settings, there is still a lot to learn about internationalization in the developing countries. This study examines HEI internationalization in Thailand based on the experience of a cross-section of students, both domestic and international. The objective is to examine the link of perceived internationalization with satisfaction and performance, and to compare the results of the two student groups. Using total population sampling method, the study conducted a survey and collected 748 valid responses out of 811, or a response rate of 92%. The data was analyzed using correlation. Results show that for both student cohorts, perception of internationalization is positively correlated with satisfaction. The satisfaction of international students has negative relationship with performance, while there was not found any correlation for domestic students. These findings suggest the need to further enhance the institution's internationalization efforts in academic, social and organizational dimensions for the satisfaction and positive development of the student population. [For the complete proceedings, see ED672804.]