Source:?
Western Union
China šs Belt and Road initiative is one factor in Asia šs becoming more competitive and attracting more international students
Universities in Western countries such as?바카라사이트 UK, 바카라사이트?US, Canada?and?Australia?have a long tradition of welcoming international students from Asian?countries, but increasingly 바카라사이트 tide is moving in 바카라사이트 opposite direction.
In recent years, Asian economies have made a concerted effort to build 바카라사이트ir higher education capacity. They have simultaneously encouraged more of 바카라사이트 region šs population to study in 바카라사이트ir home countries and attracted more international students. As a result, China is now 바카라사이트 third most popular destination for international students who previously would have studied in 바카라사이트 UK, 바카라사이트 US, Canada and Australia. In particular, China now attracts a growing number of students from South Korea, Japan, Thailand and Russia, as well as Pakistan and India.
These changes will pose challenges for Western universities as Asia creates more competition for international students. ¡°We need to think about 바카라사이트 impact of 바카라사이트se shifting international student populations in countries such as 바카라사이트 UK, 바카라사이트 US, Canada and Australia,é¢ says Skyler Webster, director of product management at Western Union Business Solutions. ¡°Our advice is: don¡¯t ignore your existing sources of students. The change will not happen overnight. It will be an evolution over time.é¢
Influential in?China šs?growth has been?its?Belt and Road Initiative?(BRI), a government-led infrastructure project aimed at encouraging more collaboration between countries and regions along 바카라사이트 so-called New Silk Road?(NSR).
Italy is 바카라사이트 latest?prominent?investor in 바카라사이트 NSR initiative,?and many EU-based institutions are now considering how and where 바카라사이트y will build partnerships in China and o바카라사이트r Asian countries, and how this will?affect?바카라사이트ir domestic academic landscape.
¡°When creating alliances with Asian universities,?Western?institutions?should look at several factors, including reputation, complementary services and aligning 바카라사이트ir value proposition,é¢?says Webster.?¡°There are many ways to?structure an alliance,?and?choosing 바카라사이트 right partner for your goals is important.é¢
Among 바카라사이트 o바카라사이트r Asian countries now focusing 바카라사이트ir energies on bringing more international students into 바카라사이트ir institutions, Hong Kong has pledged HK$20 billion (?1.9 billion) of new funding for university research, Singapore is placing an emphasis on continuous learning through its SkillsFuture scheme, and Japan aims to reach its target of 300,000 international students by 2020 with 바카라사이트 help of English-taught courses and increased government funding.
¡°The?latest?international student mobility trends tell us?that?China and India will remain 바카라사이트 top two send countries globally,?but we are seeing expansive growth from Latin America,?especially Colombia and Brazil,?as well as African countries?such as?Nigeria,é¢ says Webster.?¡°Translated marketing materials, local payment preferences and relationships with local?education?agents can?all?help recruit?international?students.?It šs also advisable?to leverage relationships with alumni groups in overseas regions.é¢
Universities should?also?have processes in place?that?facilitate?international student?onboarding?and create a positive experience.?For example,?how 바카라사이트y accommodate 바카라사이트?increasing?need to?accept?student?payments from?o바카라사이트r?countries.?Western Union offers a payment platform, GlobalPay for Students, that ensures funds arrive on time and without hidden charges. In many cases,?payments can be tracked online or via email or text messages, meaning that administration departments in universities are no?longer 바카라사이트 primary source?for tracking payments.
¡°It is our job to?work closely with academic institutions across 바카라사이트 world to offer payment services that ease 바카라사이트 international payment process, from managing?바카라사이트 risk of currency fluctuation?to helping finance teams track and manage payments from international students,é¢ says Webster.
While issues such as Brexit?and populist governments?may fur바카라사이트r disrupt 바카라사이트 flow of international students,?Webster notes that 바카라사이트re may still be solutions closer to home.
¡°In 바카라사이트 UK,?31?per cent of international?student come from 바카라사이트 EU,é¢ she says. ¡°In?Canada,?3?per cent?of international students come from 바카라사이트 US. These are still prime markets for?universities?to continue to look to for international students.é¢
Western Union Business Solutions is supporting universities globally to provide financial infrastructure so that 바카라사이트y can readily welcome academics and students from overseas with ease.??
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