Capitalizing On Niche Markets In Higher Education
Career College Central summary:
Moody’s Investment Services recently released the findings from its annual review of financial conditions at higher education institutions whose bonds it rates, noting that nearly 30 percent of public and 20 percent of private universities will suffer declines in revenue in 2014. The firm also predicts that half of universities will experience decreases in enrollments.
Among these downward trends, there has been an emergence of numerous niche markets. One example of a niche market is international education. A joint study by The British Council, Universities UK and IDP Education, Australia, predicts that the total global demand for international student places will double by 2020, reaching approximately 5.8 million. Some American institutions have been actively recruiting this population. According to the recent Institute of International Education’s “Open Doors” report, the number of international students studying at American colleges and universities grew for the seventh consecutive year.
Bright students from countries such as India, China, South Korea and Saudi Arabia are driving this growth, with the knowledge that a high-quality education will help them succeed in a global knowledge economy. But too few institutions are rising to meet this demand.
The “Open Doors” report revealed that international students comprise 3.9 percent of all enrollments at American institutions. Additionally, just five percent of colleges and universities in the United States host 69 percent of all international students in the country.
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