International Study: Changing Preferences
Guy Thompson
International Business Development | Insights, Research, Digital Marketing, Advertising, Cross-Border Ecommerce
English-speaking markets continue to be a top priority for Chinese and Indian students, and there is an estimated market of 2 million potential outbound university students from India by 2025, double that of China. The agents in each market are seeking the best features and benefits to ‘sell’ destinations to their clients, and it will be vital to include these in marketing content that reaches parents, students and agents in specific markets.
The perceived attractiveness of different destinations is constantly changing, and the “Big Four” are often swapping places in terms of consideration. Restrictive policies in the Canadian market have moved it dramatically down to 5th place from its regular 1st or 2nd ranking. New Zealand has benefited by climbing in to 4th place, and the USA has finally climbed back up 2nd place, after falling to 4th place for around 18 months.
The long-term benefits of studying in a market will be important to highlight, including industry growth sector opportunities, internships, post-study work rights and migration options. While these are not usually the central education marketing messages, agents must be armed with the right supporting information to make a compelling case to prospective students and their parents.
Chinese parents who send students offshore are under increasing pressure for financial support during their studies due to the increased cost of living seen in popular cities. Around 40% of parents are from working-class backgrounds and cannot absorb cost increases like affluent ones. They carefully consider the significant investment in international course fees, living costs, and flights, including the ability to visit their child during studies.
While education institutions have broadened their marketing approach to attract more students from diverse locations around the world, there is still a larger group of potential students from China and India. In these larger markets, it is easier to find affluent parents who can afford to invest in the prestige of an overseas degree for their child. However, they often hail from established manufacturing and technology centres all across Asia.
The total cost expectations including living costs for a 3 to 4-year overseas degree range from US$120,000 to US$220,000, depending on the international location. This is similar to just the tuition fees at Ivy League universities in the USA. This is a significant investment, and the cost of living in popular international cities is carefully evaluated by parents to find value for money.
This excerpt is from the International Enrolment Growth Section of our latest UMS whitepaper ??: "Back To Class, International Education Market Outlook 2025."
Download it from our website here:
Sources:
Navitas Agency Perception Survey, August 2024
China’s international students under pressure, CNN Business, May 2024
Unpacking the value sought by Chinese international students…, Taylor & Francis Online, August 2023
Education without borders, HSBC Life, HSBC Hong Kong, May 2024
Projected 2 Million Outbound Indian Students 2025, M Square Media, December 2023
https://www.umssocial.com/international-education-outlook/2025?s=linkedin