The findings come as universities and colleges worldwide are evolving to navigate COVID-19, from moving online, to delaying term dates. Institutions can use the report to ensure the new policies they introduce align with the needs and priorities of international students.
“We are seeing an incredible response from academic institutions on COVID-19. Many of the changes they are introducing because of the pandemic are accelerating trends that will benefit the institutions and their students in the long term. By moving to virtual classrooms, for example, we’re seeing a rise in Transnational learning, which increases the accessibility and flexibility of the courses being offered,” said Andrew Summerill, head of global payments at Western Union.
“Such changes will help institutions attract international students in the future,” Summerill said. “As we know, they increasingly want universities and colleges to invest in new technology to modernize the student experience. As a trusted partner guiding universities as they evolve to meet the expectations of future students, we conducted this research to help them navigate these challenges.”
“The universities that actively engage with these future international student profiles will inspire exciting innovation in the sector and deliver sustainable growth to future-proof the higher education landscape,” adds Summerill.
These emerging trends provide a toolkit for how universities can attract future international students and truly thrive over the next decade. As education undergoes a radical rebirth to make it fit for the future international student, encapsulating and incorporating the best, most inspiring and most useful elements of the next digital revolution will be critical to maintaining an engaging campus culture and social-emotional education.
Western Union Business Solutions is a trusted payments provider that has moved over $14B on behalf of education providers. Eight out of the top ten ranked universities globallyi save time and money using our solutions to have their international students pay their tuitions in 200 countries and 130 currencies. Download the report here.
The Future Laboratory is one of the world’s most renowned futures consultancies. It provides a unique blend of trend forecasting, consumer insight, foresight, brand strategy and innovation, to inspire and future-proof organizations.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of March 31, 2020, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2019, is available in over 75 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.