Colleges, universities, and other higher education institutions aim to provide their students with enriching learning experiences both inside and outside of the classroom. Students are encouraged to pursue study abroad programs to not only fulfill program requirements, but also to engage with diverse cultures and worlds that they may not have otherwise had the opportunity. However, the onslaught of the COVID pandemic dampened these efforts but there are signs that things are turning around.
Higher education entities have long since valued the practice of providing their students with global citizenship, instilling global perspective and cultural sensitivity to define how students interact with the world. Study abroad programs give traction to this vision, and global partnerships make this vision a reality. It is from these partnerships that the industry creates not only a meaningful impact on student education, but also an extremely lucrative one.
Governments around the world have banded together to modernize the education system, implementing smart learning programs and aligning curriculum with global teaching standards to best support their students. Global partnerships in higher education have made learning outside of the classroom invaluable not only for students, but for global and local economies as well.
Educational tourism is a lucrative industry, one that has arguably been the most affected by the COVID outbreak in regards to higher education. An indefinite pause was put on semesters abroad, research expeditions, student visa applications, as well as student lodging and spending. Not only were students abroad rushed home in spring of 2020 as borders closed and the virus spread, but overseas study programs were largely shut down for the subsequent semesters. When traveling restrictions snapped into place to safeguard public health, educational tourism halted completely.
Educational tourism continued to flat line until travel restrictions were lifted and borders began reopening. Finally, restoration of the lucrative industry is on the horizon. A recent educational tourism market study conducted by Future Market insights (FMI) grants compelling insights for the future of the industry, projecting a compound annual growth rate of 17.2% in the next decade.
Key Takeaways from the Educational Tourism Market Study Include:
- India, the U.S., the U.K., France, and Japan among others are the most popular destinations for educational tourism.
- The U.S., the U.K., China, and Australia among others are top-visited countries in the world for educational tourism and are becoming an education hub for international students.
- In terms of course type, master’s degree will be the most preferred type among consumers, contributing over 71% of global market share
- Students are the primary end-users, enabling the global educational tourism market growth and are expected to generate over 39% of revenue during the forecast period
- Global travel companies are anticipating high growth in the educational tourism sector. Though nascent in certain areas of the world, many travel companies are conducting educational tours, thereby promoting the importance of education and contributing to the growth of the educational tourism sector.
The concept of informal learning is more appreciated than formal learning, i.e., “education with travel”. Further, the thirst for knowledge has also increased thereby encouraging people to travel across the globe to gain knowledge of different concepts and technologies that they had studied earlier
The study highlights a key growth driver for the industry: implementing cutting edge technology to enhance student engagement and learning. For instance, the United Arab Emirates' (UAE) government has allocated funds towards information and communications technology (ICT) development. The funds have aided the establishment of over a hundred innovation libraries in universities to encourage and promote learning among Arabic-speaking students. “The main objective for integrating new technologies into the educational system is to enable students to adapt to the ever-evolving dynamics of various industries,” according to the report. By integrating cutting edge technology, higher education entities open the pathway to engage potential students beyond their borders.