International Education Market Estimated to Reach $433bn by 2030

 logo

Samarpita Goswami
Updated on Feb 11, 2022 02:11 PM IST

According to a new report, the total international education market is expected to grow from its pre-pandemic value of approximately US$196 billion to reach its current worth of over $400 billion by 2030.

International Education Market Estimated to Reach $433bn by 2030

A report released by PricewaterhouseCoopersstated that the global education market is expected to reach a value of approximately $433 billion by 2030. For the study, HolonIQ, a global market research firm, analysed the education market for the next decade.

HolonIQ's study was focused on the education market for the next decade, whichprovided an in-depth analysis of the industry's future.

Despite the challenges that the global education market has faced over the years, it has shown its resilient nature. Co-CEO Patrick Brothers of HolonIQ noted that despite the challenges that the education industry has faced, it has a bright future.

Over the years, the education market has shown its resiliency. The steady growth of the Asian, African, and Latin American markets has helped sustain the market's strong outlook.

Also Read: Indian Government to Roll Out E-Passports For Easier Immigration Processing

According to the report, the total international education market is expected to grow from its pre-pandemic value of approximately US$196 billion to reach its current worth of over $400 billion by 2030.

Despite this impeccable growth, the report noted that the average cost of education would still remain high throughout the next decade. It's ambitious though, considering that the figures from 2010 to 2019 show a $103 billion growth.

Although it's possible that the global education market might decelerate, Brothers noted that it would still maintain its long-term average growth rate. The report cited a survey conducted in April 2021 as proof of this point. In the survey, only 48% of students expected the global education market to grow within the next five to 10 years.

A survey conducted in January of this year showed that only 48% of the respondents expected the global education market to grow within the next five to 10 years. Despite a large number of international students from Asia and Africa, the majority of universities are located in the US, Canada, and Australia.

The report noted that despite the huge number of international students, the capacity of higher education institutions in Asia and Africa to meet the demand is still limited. According to the report, the capacity of higher education institutions in Asia and Africa is still limited to meet the demand.

Also Read: UK May Surpass USA for International Student Numbers: UKCISA President

The report noted that international students' average tuition costs would vary significantly within English-speaking countries. In most countries, international students' average tuition costs are higher than the amount spent on accommodation.

Part of the reason for the high tuition costs is due to the strong demand from international students, which is also pushing up the prices of education. In terms of tuition costs, the report noted that some countries, such as Germany and France, charge low prices to attract international students.

The study noted that the four biggest international education companies compete against each other for the majority of international students. Despite the various factors that have caused international students to shift their preference toward the US, the country still remains the preferred destination.

The rest of the world, however, has plenty of attractive destinations that attract international students each year. The report noted that most countries in the world have attractive destinations that attract international students each year. Some of these include China, Russia, Germany, Japan, and France.

Also Read: Canadian Government Scholarships Worth Over $10,000 for Exchange Students

In terms of education quality, Asian institutions are steadily improving their global standing. They would then increase their capacity and attract more international students. If the current trend continues, the four biggest international education companies might lose some of their market share to regional rivals.

The report noted that the rise of the pandemic has caused international education to become more visible in the public's consciousness. According to the report's author, digital technology is helping international education become more attractive to the public.

Get Access to FREE Guidance from Our Experts on Study Abroad!

Source: The PIE News

You can share this post!

Admission Open 2024

Glasgow Caledonian University

Glasgow, United Kingdom

Lancaster University

Lancaster, United Kingdom

American University

Washington D.C., USA

Related Articles

Aug 18, 2023 04:28 PM IST

How to Apply for Masters in USA?

Aug 03, 2023 01:18 PM IST

Documents Required for TOEFL

Our Study Abroad Offerings

Related Institutes

Planning to study abroad?

Interested in Studying Overseas?

Connect with us and kickstart your learning journey for a rewarding experience!

By proceeding ahead you expressly agree to the CollegeDekhoAbroad Terms of Use & Privacy Policy.