Educational tourism involves travelling internationally to gain education and expose oneself to foreign cultures and lifestyles. There are increasing number of students opting for short-term educational trips abroad for various courses ranging from languages, art, culture, music, dance among other interests. Higher education institutions are also offering many study abroad programs and student exchange programs to experience foreign education systems at highly affordable costs. This is giving a major boost to the educational tourism industry.
Key Takeaways
Key players operating in the educational tourism are EF Education First Ltd., ACIS Educational Tours, Explorica, Inc., WorldStrides, Rustic Pathways, Walking Tree Travel, Travel For Teens, School Tours of America, EST, World Expeditions Travel Group Pty Ltd, ACE CULTURAL TOURS, Atlantis Erudition & Travel Services, Kesari Tours Pvt. Ltd., ATG Travel, Global Educational Travel, Educational Tours, Inc., AAI EDUTOURZ, and Capital Tours, Inc. The growing demand for overseas education and awareness about cultures of other countries is a major factor expected to continue driving the educational tourism market growth over the forecast period. Technological advancements like virtual tours and augmented reality are making it easier for students and institutions to experience foreign destinations before actual visits and plan trips seamlessly.
Market Trends
The two major trends in Educational Tourism Market Size include growing popularity of short-term programs and rise of virtual educational trips. Short duration language Immersion programs and international internships of 2-8 weeks see highest enrollment. With advancements in virtual and augmented reality, edtech companies are offering virtual field trips, cultural immersions and guided tours of student's choice globally. This is allowing more users to experience different education systems and cultures virtually before planning actual trips.
Market Opportunities
Focus on developing countries by educational tourism providers and growing popularity of vocational courses abroad present key opportunities. Countries like India and China with large population and growing education budgets are attracting increasing investments from global educational travel companies. Courses on Robotics, Coding, Automotive technology and Healthcare sciences seeing rise in numbers of international students. This will further propel the educational tourism industry.
Impact of COVID-19 on Educational Tourism Market
The COVID-19 pandemic has severely impacted the growth of the educational tourism market. As global travel came to a standstill and educational institutions remained closed, the market witnessed a steep decline in 2020. The restrictions on international travel across various countries led to the cancellation or postponement of educational trips and programs. This substantially reduced the revenues of market players during the initial phase of the pandemic.
However, with the accelerated rollout of vaccination programs globally, the market is expected to witness a gradual recovery in the coming years. Various countries have now eased travel restrictions for vaccinated individuals. Educational institutions have also reopened fully or partially with safety protocols. Market players are optimistic about reviving international student programs and trips in a phased manner. They are focusing on introducing flexible booking policies, safety measures, local experiences, and digital elements to engage students. The demand for short educational tours within the home country or close international destinations is also expected to rise initially. While international travel is unlikely to regain pre-pandemic levels in the short-term, the market will benefit from an increased focus on safety, local experiences, and digital/hybrid learning models in the post-COVID era.
Geographical regions with concentration in Educational Tourism Market value
North America region accounts for the largest share in the global educational tourism market in terms of value. The presence of world-class universities, the popularity of student exchange programs, and increased spending on educational activities contribute to the high market value in the region. Countries such as the United States and Canada have been traditional hotspots for international students and educational trips from all over the world.
Europe is another major regional market owing to a large number of higher education institutions, a strong academic heritage, and popularity of diverse educational trips among students and professionals across sectors. Countries like the UK, Germany, France, Italy attract a large overseas student population as well as educational travelers. Asia Pacific is the fastest growing region for the educational tourism market driven by factors like improved higher education infrastructure, initiatives to promote student mobility, and economic growth.
Fastest growing region for Educational Tourism Market
Asia Pacific region is expected to witness the fastest growth in the educational tourism market during the forecast period. Rapidly developing economies like China and India have substantially increased their spending on education in recent years. Both countries have also launched initiatives to attract international students and emerge as global education hubs. Southeast Asian countries such as Malaysia, Thailand, and Singapore have witnessed double-digit growth in overseas student enrollments. This has supplemented the demand for educational activities and trips within the region. In addition, the increased focus on experiential learning, student exchange programs, and vocational training is fueling the growth of educational tourism across Asia Pacific. Short-term educational trips within the region as well as to long-haul destinations in Australia and New Zealand are becoming increasingly popular. The Asia Pacific market is projected to expand at a noteworthy CAGR during the forecast period due to these factors.
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