International schools - the trends in a growing market
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The advent of international schools has completely revolutionized the education industry. The ever increasing number of IB schools has given this sector the much-needed boost. It is longer the exclusive domain of expatriate children for whom the Indian education system wasn’t considered appropriate.
The IB promise to deliver high-quality education benchmarked with the latest innovations in the Western countries, where different teaching disciplines and their outcomes are seriously researched, has already helped upgrade the quality of K-12 education in India across the board.
The International school market growth
The International School Consultancy Group, which researches and analyses data on international schools worldwide, predicts that the number of students in international schools will reach six million within the next ten years. It expects the number of international schools to increase from 6000 to 10,000. According to the ISC, there are currently 180 schools planned or under construction, around the world. Leading universities are eyeing the international schools market in search of well-qualified, well-resourced students with English fluency.
Universities know that IB schools prove to be fruitful recruiting grounds as students often attend them with the end goal of studying abroad. The number of international schools in India is rapidly increasing.
Moreover it’s important to remember that although high-priced by Indian standards, they provide world class primary-secondary education at a fraction of the fees charged by their overseas counterparts. No wonder that a growing number of children from countries around the world are huddling to Indian international schools.
Middle and upper class India has also been quick to appreciate the high market value of internationally benchmarked education in a rapidly globalising world. The growth of international schooling not only points to their changing educational preferences but also the willingness of parents to spend much more money on early education.
The schools that were once meant to be philanthropic, are now operating firmly with the bottom line in mind, and the big players have stepped in to develop chains of schools covering many of the key markets around the world.
What exactly spurs the growth of international schools?
Growth of the international schools market will continue to be steered by many of the same elements that have influenced its growth in the last ten years. These include continuing economic growth, continuing movement of labour between countries, the increasing prevalence of English as the language of business, and the increasing number of students aiming to study internationally at the higher education level.
The international schools market in India has evolved from being a niche market serving the educational needs of children of overseas workers and diplomats to a booming and highly profitable market that now draws 80 percent of enrolments from local families.
Parents of the next generation are looking towards international schools to satisfy the need for overall development than rote learning.