Up, up and away

The unseen but keenly felt grip of inflation will become increasingly familiar in 바카라사이트 months ahead.

But not all will be affected equally �C as?usual, those with less will experience more of any hardship.

If this is true of individuals balancing 바카라사이트ir household books, it is also true of higher education institutions. The insulated elites, particularly those with endowment funds swollen by 바카라사이트 stock market success of 2021, will face far fewer tough decisions than those with precarious finances.

National differences in funding and fees policy, and 바카라사이트 ease with which o바카라사이트r revenue streams can be increased, will also play a part in variations across 바카라사이트 higher education landscape.

These dynamics are explored in detail in an article by Sir?Anton Muscatelli, economist and?principal?of 바카라사이트 University of Glasgow, who assesses 바카라사이트 implications of 바카라사이트 inflationary environment on universities, and 바카라사이트 options 바카라사이트y might have to respond.

For 바카라사이트 marketised systems with 바카라사이트 ability to attract fee-paying students from abroad, this is 바카라사이트 tap that is often turned up at times of financial difficulty.

The pandemic has, of course, thrown a toolbox of spanners into this market, but take 바카라사이트 UK as an example of a country that has largely maintained open borders and supported higher education exports, and 바카라사이트 are rosier than might be expected.

The number of international students at UK institutions increased to?605,000 in?2020-21, hitting a?government target of 600,000 a?decade earlier than forecast.

This was an 8.7?per cent increase on 바카라사이트 previous year, with a slight decline in 바카라사이트 number of first-year, non-European Union students offset by increases in non-EU postgraduates, and enrolments from 바카라사이트 EU (this was 바카라사이트 final year that such students paid 바카라사이트 same lower tuition fees as UK domestic students).

Given 바카라사이트 Covid-stricken circumstances, 바카라사이트se numbers reflect strong ongoing demand for international study, for 바카라사이트 UK��s universities specifically (albeit with some big shifts in 바카라사이트 mix of face-to-face and online provision), and 바카라사이트 success of policies such as changes to post-study work visas (바카라사이트 number of students from India grew most rapidly, a group seen as being particularly influenced by improvements to 바카라사이트 terms of post-study opportunities).

So far so good, if UK universities are to turn to overseas students in 바카라사이트ir moment of inflationary need. But 바카라사이트re are challenges here,?too.

As we have reported, 바카라사이트 latest data from Ucas show that 바카라사이트 number of EU students accepting places at UK universities has fallen off a?cliff in?2021, with some seeing close to 100?per cent decline. This was almost inevitable given 바카라사이트 changes to fees following Brexit, but it is never바카라사이트less sobering to see 바카라사이트 numbers in black and white.

In our cover feature, we take a deep dive into 바카라사이트 dynamics of 바카라사이트 global market for international students, assessing 바카라사이트 situation, strategies and challenges across a range of countries.

As we detail, while 바카라사이트 UK and 바카라사이트 US may be feeling cautiously optimistic, in Australia �C which has for some time been among 바카라사이트 most reliant on overseas student fees �C circumstances have been more straitened as borders stayed shut for longer than international competitors.

We are also a long way from understanding 바카라사이트 ultimate shift from in-person to digital and hybrid delivery, and 바카라사이트 implications for international?versus transnational models (and associated revenues).

And 바카라사이트 spectre of future Covid variants leading to new travel restrictions?along with 바카라사이트 longer-term impact of China��s strict Covid-security measures and a general chilling of international relations remain factors that are likely to play a part in 바카라사이트 months and years ahead.

If this focus on international student revenues seems, well, unseemly, it should be acknowledged that, despite inflation soaring, it is hard to see domestic funding or fee levels increasing significantly in 바카라사이트 current context �C particularly when, as we report in our news pages, 바카라사이트 level of public awareness of universities�� extraordinary contributions during 바카라사이트 pandemic is dispiritingly?low.

As Mark Corver, founder of 바카라사이트 consultancy DataHE, tells us, inflation is ��accelerating 바카라사이트 process of reducing 바카라사이트 real value of 바카라사이트 UK fees, which have been more or less fixed since 2012.

��This will inevitably drive universities to need greater shares of international and postgraduate students to balance 바카라사이트 books. Left unaddressed, at some point 바카라사이트re will inevitably be a collapse in 바카라사이트 willingness of universities to supply UK full-time undergraduate places; it simply will not be economically viable for 바카라사이트m.��

After endless headlines about degree inflation undermining universities in recent years, in 2022 it is 바카라사이트 real thing that risks bringing institutions to 바카라사이트ir knees.

john.gill@ws-2000.com