Exchange Rates Affect International Education
November 2nd, 2013 by Jennifer Frankel
In the world of international education two giants stand tall: China and India. It should come as no surprise that the world’s two most populous nations – and, indeed, two of its emerging superpowers – contribute more international students than any other countries on the planet. From there, however, the stories diverge. While recent economic trends have seen the value of the Chinese Yuan rise in recent months, the opposite is true for the Indian Rupee and all this has both international students and centers of higher education worried.
Since 2007 (when China began to alter its currency regulation policy) the value of the yuan has risen by almost 60% against the British Pound. As a result, studying abroad is now cheaper than ever for Chinese students and indeed a record number are doing exactly that: the 2011-12 academic year saw a 17% rise in Chinese student enrollment in the UK. Indeed, more than one in four non-EU internationals students in the UK hailed from China. While this may seem like a promising trend for educators, many are concerned that schools are becoming too reliant on – and therefore vulnerable to – a single source of students which could be affected by policy or economic changes. Read the rest of this entry »