Educational Tourism Market to Surpass US $ 1.947 billion in 2031, Supported by Supportive Government Policies: Future Market Outlook Investigation
The educational tourism market study carried out by Future Market Insights (IMF) offers compelling information on the main growth drivers and constraints affecting the growth trajectory to 2031. The study also reveals various existing opportunities. in key market segments according to age group, type of education. and type of course and region. It also highlights various strategies adopted by major market players.
DUBAI, United Arab Emirates, September 27, 2021 / PRNewswire / – Future Market Insights (IMF) in its latest analysis projected the educational tourism market show year-on-year growth of 16.5% in 2021, exceeding a valuation of around US $ 399.8 billion by the end of 2021.
With rapid growth in educational tourism across the globe, the market is expected to register an impressive compound annual growth rate (CAGR) of 17.2% between 2021 and 2031, reaching a valuation of around US $ 1,947.0 billion by the end of 2031.
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The growing awareness of the people, the increase in disposable income, the supportive government policies, the development of effective educational tools and the improvement of the accessibility to various educational courses with scholarships are some of the factors that drive the educational tourism market?
Various countries around the world are promoting educational tourism as part of their strategy to boost the local economy. These host countries benefit from international student spending on accommodation, food and drink, tuition, taxes, and other leisure activities.
The latest technologies such as artificial intelligence (AI) and virtual reality (AR) are being implemented in the teaching and learning processes, which will eventually attract students from all over the world.
Educational tourism will not only benefit the host country but will promote the personal and professional development of students by allowing them to benefit from cultural exchanges. The main market players are introducing attractive packages to attract students. Digital marketing plays a vital role in promoting the services and packages offered by various educational institutions and other businesses.
According to IMF, the higher education segment with over 71% market share will remain the most preferred type of education for students. At the regional level, North America market leader in educational tourism. The region is expected to account for over 31% of the global market share during the forecast period.
“The growing interest of students in opting for higher education in foreign countries and the implementation of favorable policies inviting students from all over the world will rapidly boost the market during the forecast period” said the IMF analyst.
Key takeaways from the educational tourism market survey
The United States dominates the educational tourism market by North America. This can be attributed to the presence of leading educational institutions and the excellent educational facilities available in the country.
Due to the availability of a flexible education system, the UK is emerging as an attractive destination for students.
The growing interest of foreigners to study Indian culture and the availability of various post-graduation courses with special scholarship programs for foreigners are some of the factors driving the market for India.
In terms of course type, the master’s (MA) remains the most preferred, accounting for around 71% of the global market share.
On the basis of age group, the 19-25 segment dominates the educational tourism market. According to IMF, the segment generates around 73% of revenue for the global educational tourism market.
Government initiatives undertaken to promote the country as a destination for educational tourism will have a positive impact on the growth of the market.
The introduction of advanced educational tools and various scholarship programs to attract international students will quickly boost the market in the future.
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The high cost associated with educational tourism hinders the growth of the market.
The COVID-19 pandemic has negatively impacted the educational tourism market as the majority of educational institutions have remained closed for a long period of lockdown.
Major players operating in the educational tourism market are adopting various growth strategies to stay relevant in the market. They take a virtual and online approach to connecting with a potential student.
In September 2020, Road Scholar has launched a virtual world of learning. Using a videoconferencing tool, Road Scholar’s one-day and multi-day online programs reflect a typical Road Scholar experience with expert-led speakers, virtual field trips, discussions and even social time, so participants can connect with their peers across the United States and beyond.
Likewise, GVI Company offers a virtual internship program and online courses.
More information on the outlook for global educational tourism sales
IMF provides unbiased analysis of the educational tourism market, presenting historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study reveals compelling information on the global demand for educational tourism with detailed segmentation on the basis of:
Age group (% of demand):
Less than 12 years
Type of education (% of demand):
Type of occupation (% of demand):
Type of course (% of demand):
Region (% of demand):
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Key Questions Covered in the Education Tourism Sales Outlook Report
Report provides insight into educational tourism demand outlook for 2021-2031
The market research also highlights the expected sales growth for the educational tourism market between 2021 and 2031.
The educational tourism market research identifies key growth drivers, restraints, and other forces impacting the prevailing trends and evaluating the current market size and forecast and technological advancements within the market. ‘industry
Analysis of the educational tourism market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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