Are You Ready for Global Expansion?
With online enrollments experiencing a 38 percent growth rate in 2004, Hezel Associates predicts the global online higher education market will exceed $69 billion within the next 10 years. At a time when many U.S. institutions are looking to build a bridge to the international arena and explore new markets for enrollment growth, other countries face a shortage of higher education campuses and student seats. In an effort to improve quality, South Korea revealed plans to reduce both the number of national universities and number of students enrolling. In India, higher education has not kept up with the growing economy and the curriculums of the Indian universities do not match the needs of the growing economic base.
According to Richard Hezel, president of Hezel Associates, “While most countries now have a system of free public education in addition to private institutions, a gap in opportunity still exists.” As a result, thousands of students from countries such as China, South Korea, and India study in the United States or Europe. “These countries may be ripe to import online learning,” said Hezel.
If your institution is thinking about embracing the opportunities of the international higher education market, there are several strategic decisions that have to be made.
One element of a successful development of a global presence is closely considering and understanding the potential in any given market. Each country has a unique set of environmental factors that shape the opportunity such as demographics, economy, technology, and education.
Another element of a successful global expansion is an internal in-depth analysis. The institution must be willing and able to respond to the global market needs. Analyzing the strength of existing relationships on the higher education global market can lead to even stronger partnerships that are critical for success.
Visit www.hezel.com/globalreport to receive a free copy of our newest white paper: Developing a Global E-Learning Program: From Conceptualization to Implementation and learn more about our international market services