EDUCATIONAL TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Size and Trends

The educational tourism market is estimated to be valued at USD 470.15 Bn in 2024 and is expected to reach USD 1,092.45 Bn by 2031, growing at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2031.

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The educational tourism market has seen steady growth over the past few years, and this trend is expected to continue over the forecast period. The rise of globalization and increasing student mobility have boosted the number of students pursing higher education abroad. Moreover, growing education expenditures across developing nations and overall rising disposable incomes are increasing the affordability of education tourism. Key countries including the U.S., the U.K., Australia, and Germany remain top destinations for education tourism. However, new emerging markets, such as China, Brazil, and India, are witnessing increased traction due to lower costs and the growing education infrastructure. Overall, significant cross-border enrollment figures and higher international student inflows point to a very promising outlook for the educational tourism market.

Attraction to foreign cultures and experiences

The desire to broaden one's horizons and immerse oneself in new cultures has been a major driver of educational tourism in recent years. Young students and professionals are increasingly eager to travel overseas not just for academics but to learn about different ways of life. Studying abroad provides a unique opportunity to experience the day-to-day life in another country - from living with a host family to interacting with local students. It exposes travelers to new customs, cuisine, arts, and festivals they may never encounter just by visiting as a tourist. Many travelers return home with improved language skills as well as a deeper understanding and appreciation of other societies.

The exposure to diversity of ideas is also highly valued in today's globally interconnected world. An international education introduces students to different philosophical and political traditions. It encourages independent thinking and challenges preconceived notions in a way that's not always possible within one's domestic education system. The flexible learning environments in many overseas institutions allow students to craft interdisciplinary programs mixing subjects from humanities, sciences as well as arts. The wider range of course options cater to increasingly eclectic interests of modern learners. Overall, the unique real-world learning experiences and critical thinking gained from study abroad programs continue making international education an attractive proposition.

Market Concentration and Competitive Landscape

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A second major factor driving interest in educational tourism is the focus on skills and credentials required by globally mobile careers. In the modern workforce characterized by rapid technology changes, young professionals recognize the need to constantly reskill and adapt. While domestic qualifications are still valuable, many seek international experiences to gain edge over competitors. Studying or training overseas is seen as an investment in one's long term employability and career progression within multinational companies and international organizations.

Partaking in skill-based programs, from coding boot camps to hospitality training, provides an opportunity to learn alongside internationally diverse peers. The multi-cultural work environment improves communication, collaboration and social skills. It also allows networking vital for future roles requiring interaction across borders. Several education destinations have also emerged as centers for niche fields like maritime technology, tropical agriculture or renewable energy due to presence of renowned institutes and industry partners for hands-on learning. Mastering select foreign languages, especially Spanish, Mandarin, French, and German, has also grown in demand from employers seeking candidates with multi-lingual abilities to serve global clients and markets.

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The educational tourism market faces several challenges. As travel remains unpredictable due to global events like pandemics and political instability in some regions, it introduces uncertainty and causes many to postpone their educational trips. Additionally, costs associated with international travel and education continue to rise, putting study abroad programs out of reach for some. Differences in visa approval processes across countries also discourage some from pursuing education overseas. Infrastructure and accommodation limitations in smaller cities and developing countries can hamper the growth of this market.

 Market Opportunities: Emergence of new destinations

The emergence of new destinations has a huge potential to drive growth in the educational tourism market. As the world becomes more interconnected and accessible, students are displaying greater willingness to study in new and less traditional locations. This presents valuable opportunities for countries and regions to establish themselves as niche education hubs. For Instance, South and Southeast Asian countries like Vietnam, Cambodia, and Indonesia are increasingly attracting international students with their unique environments and relatively low costs of living. These countries offer high-quality academic programs taught in English, as well as immersive cultural experiences different from traditional Western study abroad options. Between 2018 and 2021, the number of international students studying in Vietnam grew by 30%, according to the United Nations Educational, Scientific and Cultural Organization (UNESCO) data in 2021. Cambodia similarly saw a 23% increase in foreign enrolments during this period. This emergence of new study destinations disrupts the long-standing dominance of destinations like the U.S., U.K., and Australia. It allows more locations to compete on aspects beyond just academics, like diversity of experience. Students now have greater latitude to satisfy their desire to learn in radically different cultural milieus. As alternatives proliferate, individuals will make choices based more on fitting their interests and lifestyle preferences. This changing student mindset presents an open playing field for entrepreneurial countries. If supported by strong value propositions tailored for niche segments, new educational hotspots can rise rapidly and drive significant future growth in this expanding industry.

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In terms of age group, 16-25 years contributes 41.2% share of the market owing to their strong desire to experience different cultures and broaden their educational horizons. This segment sees overseas education as an opportunity for personal growth and career advancement in the long run. The chance to independently explore new places without parental supervision also adds to the thrill of international travel during youth. Living and studying abroad in their formative years helps develop communication skills, global perspectives, and self-reliance - valuable assets that give this segment an edge in an increasingly interconnected world.

Insights, By Education Type: Hands-on Learning beyond the Classroom

In terms of education type, college contributes 32.3% share of the market as students seek to supplement their degrees with experiential learning. International exchange programs, semester abroad options, study tours, and internships are popular choices that bring education to life. Beyond textbooks, colleges offer opportunities to apply concepts in real work settings overseas. Immersive cultural experiences through volunteer work or research projects also allow this segment to gain transferable soft skills and distinguish themselves in a competitive job market. Such well-rounded college credentials with a global edge are highly valued by employers.

Insights, By Occupation: Career Exploration Opens Doors for Students

In terms of occupation, students contribute 39.8% share of the market driven by their need to evaluate career interests and network for future prospects. Temporary overseas study and internships provide low-stake exposure to different professions across borders. The valuable industry exposure and international credentials help narrow academic and job choices. Some students also see value in developing social and professional connections in strategic global markets during their studies. International qualifications combined with an international mindset widen career pathways for this segment in today's globalized hiring landscape.

Regional Insights

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North America has established itself as the dominant region in the global educational tourism market with 39.7% of the market share. With some of the world’s top universities and colleges located across the U.S. and Canada, it draws hundreds of thousands of international students each year pursuing higher education degrees. The region also sees steady inflows of language learners traveling to cities like New York, Boston, and Vancouver for short-term language immersion courses. The presence of globally renowned institutes of higher education like Harvard University, Massachusetts Institute of Technology, and University of Toronto have ensured North America's leadership position. Students are drawn by the prospect of receiving a degree from these elite institutions, which significantly boosts their career prospects back home. Additionally, the option to work part-time to earn income helps offset high tuition costs and living expenses. The flexible post-study work permit programs also allow international students to gain valuable work experience.

The educational tourism market in Asia Pacific is witnessing the fastest growth globally. Countries like Singapore, Malaysia, Thailand, and Indonesia are proactively promoting their education systems and establishing partnerships with schools and universities abroad. Being relatively affordable in comparison to developed markets, these nations have collectively emerged as an attractive nearshore study destination. Singapore in particular has implemented initiatives to enhance its profile as a regional education hub. Its efforts in recent years to attract international branch campuses of reputed European and American institutions have paid off. The presence of international schools and boarding schools also makes it a popular choice for overseas secondary education. Meanwhile, countries like Malaysia and Thailand are leveraging their natural beauty, diverse cultures, and friendly people to attract language and vocational learners. Collaborations with tourism boards provide bundled travel-study packages.

Market Report Scope

Key Developments

• In February 2024, STIC Travel and Mastereign Group partnered to offer educational tours in Singapore for Indian students. The program, called "Red Dot Green City," focuses on Singapore's sustainability efforts, technological advancements, and cultural heritage
• In October 2023, the World Tourism Organization (UNWTO) launched an education toolkit to help incorporate tourism as a subject in high schools around the world
• In October 2022, Abercrombie & Kent (A&K) announced the opening of four new destination management companies in Canada, Colombia, Namibia, and Saudi Arabia. The company has over 55 offices in 30 countries, making it the largest network of destination management companies.
• In August 2021, CIEE announced the launch of its "Study Away Local" program, which allows U.S. students to study at a CIEE Global Institute in their home country due to the COVID-19 pandemic

*Definition: The educational tourism market involves tourists and students who travel internationally or domestically primarily for the purpose of studying or taking educational programs or courses at educational institutions. This market focuses on students looking to study abroad for a semester, summer, or year-long programs as well as lifelong learners traveling to participate in educational workshops, seminars, camps, and language immersion programs centered around a wide variety of subject areas and topics of interest.

Market Segmentation

• Age Group Insights (Revenue, USD Bn, 2019 - 2031)
  • Less Than 15 Years
  • 16-25 Years
  • 26-40 Years
  • 41-55 Years
•  Education Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Primary
  • Secondary
  • College
  • Post-graduation
•  Occupation Insights (Revenue, USD Bn, 2019 - 2031)
  • Students
  • Teachers
  • Government Officials
  • Corporation Managers
  • Enterprise Owners
  • Workers
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • EF Education First Ltd.
  • ACIS Educational Tours
  • Explorica, Inc.
  • WorldStrides
  • Rustic Pathways
  • Walking Tree Travel
  • Travel For Teens
  • School Tours of America
  • EST 
  • World Expeditions Travel Group Pty Ltd
  • ACE CULTURAL TOURS
  • Atlantis Erudition &Travel Services
  • Kesari Tours Pvt. Ltd.
  • ATG Travel
  • Global Educational Travel
  • Educational Tours, Inc.
  • AAI EDUTOURZ
  • Capital Tours, Inc