Managing risk with holistic diversification strategies
Multiple governments, universities and consultants have flagged the underlying financial risk of a lack of diversification for universities. Global study destinations face growing uncertainties: border closures, disruptions to international travel, currency fluctuations, diplomatic rows, and government interventions make internationalization a balancing act. International students from India and China make up over 40% of international enrolments in UK universities and over 50% of international enrollments in North American universities. For Australian universities, roughly 6 out of every 10 international students enrolled is from India or China.
Diversification lies at the core of international recruitment strategy: it helps universities create the right mix of students and programmes to be successful in their future planning.
Of course, geographical diversification should be a major focus of university decision-makers. The pandemic has introduced even more uncertainty with border closures and disruptions to both international travel and on-campus teaching. These uncertainties add to the complexities of currency fluctuations, diplomatic rows, and government interventions. The concentration of students from certain countries not only impacts the diversity of perspectives in the classroom. It lowers the resilience of universities to changes in global demand.
Geographical diversification, however, is interrelated with other aspects of diversification. Decisions about which recruitment countries universities should focus on must consider student interest in different disciplines and subjects, across different levels and formats.
On the 26th of January join us for a webinar that touches on a new report from Studyportals and Unibuddy. The report identifies 17 new recruitment markets for universities, based on growth and student interest. Dr. Carmen Neghina, Senior Marketing Analytics Consultant at Studyportals is joined by David Di Maria, Senior International Officer & Associate Vice Provost for International Education at University of Maryland Baltimore County, and Brad Farnsworth, Principal at Fox Hollow Advisory to look at practical ways that universities can find new opportunities through diversification.
Register to attend: https://bityl.co/ARsU
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