A study by management consulting firm Redseer on the post-pandemic view of the Indian overseas education market has forecasted that it will surpass its 2019 high of 6% with India moving back to normalcy and countries opening up their borders with favourable immigration policies. In 2019, approximately 0.6 million students went overseas for higher education. This rise, which will drive the market forward, can be attributed to the student-friendly visa regime in Anglophile countries and increased awareness among students in tier two cities.
The study also revealed that approximately 10 million addressable students make decisions for higher education every year. Out of which, 80% constitute undergraduate students, and 20% make up postgraduate students. This trend could be due to parental discomfort for not allowing children away from home as they are ‘too young’. In contrast, postgraduate decisions are driven by self-motivation and include limited decision-making by family members.
The study further predicted that English tests and student counselling would be the primary revenue source for market leaders as 70% of the students opt for anglophile countries, making the English test market a high-volume business. IELTS continues to witness the growth and will do so over the next three to five years, while TOEFL remains a close contender. Meanwhile, a counsellor’s role is evolving as students have plenty of access to information, and they seek personalised counselling experience. In addition, the counsellor’s role will evolve in keeping with the increased digitisation, and the interest will be more significant in terms of virtual counselling.