Education Spending to Hit $10 Trillion by 2030, India to Surpass China as Top Source of Int’l Enrollments

United States United Kingdom North America International Studies Higher Education News by Erudera News Dec 29, 2023

International students at university

The global education and training expenditure will surge to $10 trillion by 2030, recent projections say.

That was indicated by HolonIQ, the global market intelligence platform for education, during the recent QS Reimagine Education Conference held in Abu Dhabi, where international education sector has been advised to be prepared for changes in trends, Erudera.com reports.

The education spending figure is attributed to population growth in developing markets, especially in Asia and Africa. Projections show that this trend will result in an estimated expenditure exceeding $8 trillion by 2025.

Further, a significant global shift was also predicted, with India surpassing China as the leading source country of students worldwide.

Reflecting on historical data, HolonIQ founders Patrick Brothers highlighted the remarkable growth of international education, media report say. The number of students pursuing their education abroad jumped from less than one million in 1970 to over 6 million today.

During the conference, the platform’s founders projected that the number of students studying abroad will continue to increase, foreseeing nearly 8.95 million enrollments from higher education students outside their country of citizenship by 2030.

While the United States remains the top study destination, the United Kingdom, Australia, and Canada were mentioned for their popularity among international students at the conference. China has also gained popularity as a sought-after destination for international students in recent years.

Last year, the United States continued to attract the most international students from all over the world. This year, Open Doors 2023 Report on International Educational Exchange showed that more than one million (1,057,188) international students chose American colleges and universities during the 2022/23 academic year, a 12 percent rise compared to the previous academic year.

“Students from around the world have chosen the United States as the top destination for international study. International education is a vehicle that promotes peace and cross-cultural connections and provides the tools necessary to address the shared challenges of our time,” Assistant US Secretary of State Lee Satterfield said.

Of these students, most were from China, and India continued to lead, with most students studying in the US, 289,526 and 268,923, respectively.

According to Statista data, in 2022, the top 10 countries with most international students were the US, UK, Canada, France, Australia, Russia, Germany, China, Japan and Italy,

The same data reveal that the number of international students in these countries last year was as follows:

  • United States - 948,519 students
  • United Kingdom - 633,910 students
  • Canada - 552,580 students
  • France - 364,756 students
  • Australia - 363,859 students
  • Russia - 351,127 students
  • Germany - 324,729 students
  • China - 221,653 students
  • Japan - 201,877 students
  • Italy - 125,470 students

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