According to a recent report by Future Market Insights
(FMI), the educational
tourism market is expected to surpass a valuation
of US$ 1,947.0 Bn at a robust
CAGR of over 17.2% through
2031.
Governments around the world have played an
important role in modernizing the education system by
developing smart learning programs and aligning the
education curricula with global teaching
standards.
The as artificial intelligence
(AI), machine learning, virtual reality (VR),
augmented reality (AR), etc. has led to the adoption of more
efficient methods of teaching and in turn delivering an
enhanced quality of education.
Governments have
adopted several initiatives to support the integration of
technology into the education system. For example, the UAE
has initiated an Innovation Hub by Oracle in Dubai, allowing
students to pitch ideas for developing technological
changes.
Meanwhile, the UAE government has allocated
funds towards ICT development and establishment of 122
innovation libraries in schools with Arabic representation
in technology in order to encourage and promote education
among Arabic-speaking students.
The main objective for
integrating new technologies into the educational system is
to enable students to adapt to the ever-evolving dynamics of
various industries. Moreover, regional governments are
focusing on creating an ecosystem led by innovation and a
knowledge based economy.
Therefore, the adoption of
these technologies into the education system remains a top
priority for government authorities.
Key
Takeaways from the Educational Tourism Market
Study
- India, the U.S., the U.K., France,
and Japan among others are the most popular destinations for
educational tourism. - The U.S., the U.K., China, and
Australia among others are top-visited countries in the
world for educational tourism and are becoming an education
hub for international students. - In terms of course
type, master degree will be the most preferred type among
consumers, contributing
over 71% of global market
share - Students are the primary end-users, enabling
the global educational tourism market growth and are
expected to generate over 39% of
revenue during the forecast period - Global travel
companies are anticipating high growth in the educational
tourism sector. Though nascent in certain areas of the
world, many travel companies are conducting educational
tours, thereby promoting the importance of education and
contributing to the growth of the educational tourism
sector. - The concept of informal learning is more
appreciated than formal learning, i.e., “education with
travel”. Further, the thirst for knowledge has also
increased thereby encouraging people to travel across the
globe to gain knowledge of different concepts and
technologies that they had studied
earlier.
“Given the ever-growing demand
for higher education and to bring to the attention of the
local authorities to the implementation of the national
strategy for international cooperation, international
student recruitment has become a priority. Implementation of
various policies and measures to help recruitment of a
higher number of international students will therefore
present highly lucrative growth opportunities for the
market,” says an FMI analyst.
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Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-13880
Impact
of Covid-19 & 2020 Market
Analysis
Educational tourism has been one of
the most affected industries from the very beginning of the
outbreak of the coronavirus, with airlines on the ground,
the suspension of outgoing and incoming flights, nationwide
lockdowns, hotels closing and travel controls
enforced.
In the FQ-20, the pandemic limited the
arrival of international visitors to a fraction of what they
were one year before. Countries all over the world imposed
travel restrictions to limit the spread of the coronavirus,
which broadly affected the overall tourism
industry.
Additionally, The Director-General and CEO
of IATA reported that financially, 2020 was the worst year
in aviation history. On average, US$ 230.0 Mn has been added
to business losses on each day of this year, contributing to
a net loss of US$ 84.3 Bn dollars.
In 2020, with the
extreme effects of the Covid-19 pandemic, in contrast to
2019 estimates, foreign tourism decreased by 22% in Q1 and
by 65% in the first half of 2020, which directly impacted
the educational tourism industry.
Who is
Winning?
Players in educational tourism
market adopts a virtual and online approach to connect with
potential people. For instance, key players such as GVI
Company, EF Educational Tours, and M.K.H Consultancy
Services, among others provides virtual internship program
and online classes. This approach helps the players to
attract more customers.
Few key players in the
educational tourism market are Meridean Overseas, GVI
Company, Global Volunteers, Capital Tours, Inc., EF
Educational Tours, Road Scholar, AAI Edutourz, ACIS
Educational Tours, GoIreland, Qadri International Education
Consultancy, Intelligent Partners, Futures Abroad, ProEd
DMCC, Education Resources Network (ERN), Education Zone,
Fact, IQ Education Consultants, M.K.H Consultancy Services,
and Stratix Consultants among others.
Get
Valuable Insights into Educational Tourism
Market
Future Market Insights, in its new
offering, provides an unbiased analysis of the global
educational tourism market, presenting historical demand
data (2016-2020) and forecast statistics for the period from
2021-2031. The study divulges compelling insights on the
educational tourism market (% of demand) based on the age
group (less than 12 years, 13-18 years, 19-25 years, 26-40
years, and 41-55 years), education type (primary, secondary,
college, and post graduate), type of occupation (students,
scholar, teachers, government officials, corporation
managers, enterprise owners, workers, and others), course
type (master degree, secondary education, and primary
education) across seven major regions.
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Before Buying Research Report:
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About
Future Market Insights (FMI)
Future Market
Insights (FMI) is a leading provider of market intelligence
and consulting services, serving clients in over 150
countries. FMI is headquartered in Dubai, and has delivery
centers in the UK, U.S. and India. FMI’s latest market
research reports and industry analysis help businesses
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confidence and clarity amidst breakneck competition. Our
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that our clients prepare for the evolving needs of their
consumers.
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Future Market Insights is the premier provider of market intelligence and consulting services
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.
