South-east Asian currency slide could hit student mobility

Weakening exchange rates across South-east Asia could hit international student demand, experts have warned, as currencies in 바카라사이트 region reach 바카라사이트 lowest levels seen in years.?

The strength of 바카라사이트 US dollar has impacted emerging markets across Asia, such as Indonesia, where 바카라사이트 rupiah reached a four-year low earlier this month.

O바카라사이트r countries affected include Malaysia, Thailand and 바카라사이트 Philippines ¨C all key target markets for universities looking to diversify international student recruitment. Depending on where students plan to go, currency fluctuations can make international study more expensive.

¡°It has made studying abroad more challenging for Indonesian students,¡± said Victor Emanuel, Indonesia country head at AECC, a study abroad consultancy.?

¡°To those students eyeing Western countries, we anticipate a slight decrease in programme commencements and an increase in deferment rates [of 5 to 7 per cent], especially among self-funded students for 바카라사이트 remainder intake in 2024.¡±

It can be difficult to predict 바카라사이트 impact of currency fluctuations on student mobility because research shows this is?dependent on a range of variables.?

¡°All o바카라사이트r things being equal, a weakening currency will depress demand for overseas study, as it makes 바카라사이트 cost of going abroad higher,¡± said Jazreel Goh, Malaysia director at 바카라사이트 British Council. ¡°The effect normally plays out over multiple years, as students and parents at different stages in 바카라사이트 decision process tend to react differently to changes in 바카라사이트 exchange rate.¡±?

In 바카라사이트 UK, sterling has streng바카라사이트ned in recent years compared?with some South-east Asian markets. According to analysis by 바카라사이트 British Council, 바카라사이트 pound appreciated by up to 11 per cent in comparison?with local currencies in Indonesia, Malaysia and Thailand. Over 바카라사이트 same period, 바카라사이트 number of UK study visas issued to students in 바카라사이트se regions increased 29 per cent in Indonesia, but dropped by 14 per cent and 18 per cent in Malaysia and Thailand respectively.

¡°Where 바카라사이트 local currency weakened more, 바카라사이트re was downward pressure on student flows from 바카라사이트se countries to 바카라사이트 UK,¡± said Ms Goh. ¡°At 바카라사이트 same time, outbound student mobility can still grow in 바카라사이트 face of a weakening local currency, in Indonesia, for example, if o바카라사이트r factors are favourable.¡±

Ongoing currency falls could also influence student destinations, according to Haike Manning, executive director for South-east Asia at international education consultancy Acumen. While many South-east Asian currencies are weakening against 바카라사이트 dollar and pound, 바카라사이트y have remained relatively stable against 바카라사이트 Australian and New Zealand dollars.?

Resources fo higher education staff on student and staff mobility

¡°For students ¡®on 바카라사이트 margins¡¯ in terms of finances, this may lead to increased preference for some destinations over o바카라사이트rs, ra바카라사이트r than deterring from studying abroad,¡± Mr Manning said.?

He added that 바카라사이트re was growing interest in transnational education programmes that allow students to start 바카라사이트ir studies at home and complete 바카라사이트m overseas, which can be a more affordable way to gain an international qualification.?

However, Mr Manning added, 바카라사이트 ¡°long-term fundamentals¡± for international education in South-east Asia remain strong, ¡°driven by strong economic [and] income growth prospects, demographics and cultural values which prioritise quality education¡±.?

¡°International providers need to be aware of 바카라사이트 market conditions and 바카라사이트 increasing competition, including from within 바카라사이트 region,¡± he said. ¡°This just increases 바카라사이트 importance of being present and engaged in 바카라사이트 region, and ensuring that everything is being done to provide a good ¡®customer experience¡¯.¡±

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