The global higher education landscape has undergone significant change in the wake of COVID-19. There’s been a notable surge in students opting for more affordable programs, alongside a considerable rise in those pursuing overseas education for immigration purposes. Countries like Canada and Australia have responded by easing visa constraints to lure international students. Meanwhile, India and China, as two key players in sending students abroad, are experiencing divergent trajectories. While China is fostering its domestic education sector and implementing policies to draw in international students, its population is expected to decline. Conversely, the rapidly growing youth population in India offers a favorable opportunity for overseas students. For nations reliant on the overseas education sector, striking a balance between the economic benefits and local employment impacts is crucial, while also addressing market share challenges posed by China and India. Exploring alternative markets is imperative. Nigeria, Kenya, and other nations show high growth potential, while the rising middle class in Latin America offers another potential source market. Kazakhstan emerges as a notable contender, with its pre-pandemic economic expansion and government initiatives promoting international student mobility and ambitious targets. The declining cost of studying abroad reflects not only the economic challenges facing the global education sector but also a democratization of access to international education, no longer confined to affluent families. A noticeable rise of international students from Asian countries—such as China, Russia, Japan, and South Korea—indicates a slow shift in the market share away from popular study locations. This shift underscores a broader trend of diversification in the global higher education landscape.
Read full abstract