Institutions across the board want to diversify their international student cohort beyond China and India. Here are the top 5 emerging source markets to watch.
- Vietnamese families are willing to pay high fees for education.
- They spend nearly half (47%) of their household expenditure on schooling alone.
- Together, this amounts to USD 3-4 billion spent studying abroad annually.
- Top destination markets for Vietnamese students include Japan, USA, and Australia.
- The number of outbound students from Nepal jumped four-fold to 63,000 in the last 5 years.
- This was largely driven by a lack of domestic options.
- Top destination markets for Nepalese students include Australia, Japan, and USA.
1% of Nepal’s universities offer post graduate degrees.
- In Sri Lanka, over 40% of the population is of schooling age (under 24 years old).
- Out of 220,000 students who sit university exams every year, there are only enough seats for 23,000 domestically.
- The supply-demand gap fuels the ever-rising demand to study abroad.
- Top destination markets for Sri Lankan students include Australia, USA, and Malaysia.
- Nigeria’s education sector has been overburdened by strong population growth and a significant ‘youth bulge’.
- Lack of domestic capacity has left 6.3 million qualifiedNigerians without a place between 2012-2017.
- Top destination markets for Nigerian students include UK, USA, and Malaysia.
- Indonesia is in urgent need for a more educated workforce as only 7% currently hold a university education.
- It is now sending 35% more students abroad than it did a decade ago.
- Affordability is the most important decision factor and scholarships will play a big role in school selection.
- Top destination markets for Indonesian students include Australia, Malaysia, and USA.