Future Market Insights (FMI) forecasts the global educational tourism market to experience a year-on-year (YoY) growth of 16.5%, surpassing USD 399.8 billion by the end of 2021. With the rapid growth in educational tourism globally, the market is projected to grow at a compound annual growth rate (CAGR) of 17.2% from 2021 to 2031, reaching an estimated value of approximately USD 1,947.0 billion by 2031.
Factors driving this growth include increased awareness, rising disposable incomes, supportive government policies, and advancements in teaching aids. The growing accessibility to educational courses, especially with scholarships, also contributes to market expansion. Many countries are leveraging educational tourism to boost their local economies, benefiting from international students’ spending on accommodations, food, tuition, and leisure activities.
Technological innovations such as artificial intelligence (AI) and augmented reality (AR) are transforming the learning experience, further attracting students globally. The sector not only supports host countries’ economies but also fosters personal and professional growth through cultural exchanges. Leading players are offering attractive packages and using digital marketing to reach prospective students.
According to FMI, postgraduate education remains the most preferred choice, accounting for over 71% of the market share. Regionally, North America dominates the educational tourism market, expected to hold more than 31% of the global market share during the forecast period.
Key Takeaways from Educational Tourism Market Survey
- The U.S. dominates the educational tourism market in North America. This can be attributed to the presence of leading educational institutions and the excellent educational facilities available in the country.
- Owing to the availability of flexible education system, the U.K is emerging as an attractive destination for students.
- 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 in India.
- In terms of course type, master’s degree (M.A) remains the most preferred, accounting for around 71% of the global market share.
- Based on age group, 19-25 segment leads the educational tourism market. As per FMI, the segment generates around 73% revenue for global educational tourism market.
Key Drivers
- Government initiatives undertaken to boost country as a destination for educational tourism will positively impact the market growth.
- Introduction of advanced teaching aids and various scholarship programs to attract international students will drive the market swiftly in the future.
Key Restraints
- High cost associated with educational tourism is hampering the growth of the market.
- COVID-19 pandemic negatively impacted the educational tourism market as a majority of educational institutions remained closed during extended period of lockdown.
Competitive Landscape
Key players operating in the educational tourism market are adopting various growth strategies to stay relevant in the market. They are adopting virtual and online approach to connect with potential pupil.
- In September 2020, Road Scholar launched virtual world of learning. Using a videoconferencing tool, Road Scholar’s day-long and multi-day online programs reflect a typical Road Scholar experience with expert-led lecturers, virtual field trips, discussions and even social time, so participants can connect with their peers throughout the U.S. and beyond.
- Similarly, GVI Company offers virtual internship program and online classes.
Market by Category
By Age Group (% of Demand):
- Less Than 12 Years
- 13-18 Years
- 19-25 Years
- 26-40 Years
- 41-55 Years
By Education Type (% of Demand):
- Primary
- Secondary
- College
- Post Graduate
By Type of Occupation (% of Demand):
- Students
- Scholar
- Teachers
- Government Officials
- Corporation Managers
- Enterprise Owners
- Workers
- Others
By Course Type (% of Demand):
- Master Degree
- Secondary Education
- Primary Education
By Region (% of Demand):
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/educational-tourism-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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