A new survey on the global international education market indicates a “resurgence” of the industry, with today’s five million enrolments reaching more than eight million by 2030.
Global market research agency HolonIQ carried out “a global estimate” on the market in a bigger “level of detail” than ever seen before, looking towards the next 10 years on a complete scale.
The report predicts that total international education will grow from US$196bn pre-pandemic and reach $433bn by the end of the decade. It does concede that average expenditure per student “varies significantly by market and credential”, especially with regards to tuition.
When coming to certain source markets, the HolonIQ data showed some differing findings. Despite 70% of global demand being in Asia and Africa, over half of the top 200 universities and 55% of the top 200-500 are in the US, UK, Canada or Australia.
The survey goes on to say that while 22.8 million students study at the top 1,000 universities, Asia and Africa “lack the post-secondary capacity to meet demand”.
Tuition around the world, as previously mentioned, “varies significantly” – around $10,000 up to $100,000 – within English-speaking advanced economies.
Asian institutions are climbing the global rankings faster and faster and will increase their capacity and attractiveness as alternatives to studying overseas.
Source of information:
https://thepienews.com/news/holoniq-intl-market-ed-data/