We recently compiled a report on the 20 Best Countries to Study Abroad for English Speakers and in this article we will look at the best country.
Globalization of Education
The UNESCO Institute for Statistics (UIS) reported over 6.4 million international students in 2021. This increased from 2 million in 2000. According to QS World University Rankings, this number is expected to reach 8 million by 2025. This is because more and more students are now seeking study-abroad opportunities.
The most popular study-abroad destination is the United States. The US is home to 20% of the total international students globally, as of 2023, according to Project Atlas. This is followed by 10% in the UK, 9% in Canada, and 7% in Australia. These countries are filled with prestigious institutions that have spent decades building academic excellence, but another reason for their attraction to international students is the language medium of instruction – English.
English Language Dominance in Academia
English is the language of business and academia. It is the most spoken language among non-native speakers, with prevalence in over 65 countries. Both native and non-native English speakers find it easier to look for academic study programs in English instead of learning another language. So, countries like the US, the UK, Canada, Australia, New Zealand, and Ireland remain popular destinations for international students.
Previously, English-language programs were mainly offered in native English-speaking countries. But this has changed. Many institutions in non-English-speaking countries now provide several programs and even entire degrees taught in English. Additionally, many of these institutions make English proficiency courses widely accessible.
Europe has made leaps in this regard. Countries like Germany, the Netherlands, and Sweden are constantly improving their higher education standards, and increasing English-taught degree programs, particularly at the master’s level. Asian countries like China, India, and Thailand are also making similar adaptations for international students.
The British Council predicted that by 2024, China and India would cater to a large intake of international students, hitting 338,000 and 209,000 respectively. Such a rise shows how English speakers are now looking for global study-abroad opportunities, and not just in English-speaking countries. This is because they want a well-rounded academic experience incorporating cultural exchange, and English-language instruction makes it easier.
Economic Contribution of International Students
In 2023, Universities UK reported that every 11 non-EU international students generated $1.3 million for the UK’s economy. This was shown by a total of about $54 billion generated by international students in 2021-2022, compared to the $40 billion raised in 2018-19. Similar trends are available for non-English speaking countries as well.
It’s important to note here that while English-speaking countries get a major economic benefit from high tuition fees for international students, students are moving to non-English-speaking countries for affordability. Non-English-speaking countries typically have comparatively lower fees.
Many countries, especially in Europe, offer fully-funded free degree programs. Germany is a great example. Such countries expect payback on their funding through international student retention so that their future skilled labor can contribute to the economy.
In 2023, The Pie News reported that 60% of the international students who came to Germany in 2015 were still there, showing a promising retention rate. Germany hit a record of 370,000 international students in 2022-2023. These international students are expected to become skilled workers to gradually boost the country’s economy.
So, the German Federal Ministry of Education, and the German Academic Exchange Service (DAAD), have collaborated to recruit more international students and graduates. The program is visioned for 2028 and is backed by $130 million from the Federal Ministry of Education and Research.
Online and Distance-Learning Options
Despite wide funding options, moving abroad for education still comes with many foreseen and unforeseen costs. If you have uncertain finances, it is always safer to go for online and distance-learning options. This is especially true today when education technology companies are on the rise.
In 2023, ProPublica reported that the annual total of venture capital investments in education technology companies increased from $5.4 billion to $16.8 billion in the 2019 to 2021 period. These investment trends highly raised the standard of these ed-tech companies.
One such company is Coursera Inc. (NYSE:COUR). Coursera Inc. (NYSE:COUR) is an online platform offering various university-level courses. It’s like a big online school that has the best teachers from around the world. Whether you want to pursue economics or cooking, you can learn it all on this platform.
You can earn certificates and complete entire degree programs on Coursera Inc. (NYSE:COUR). It partners with different universities, colleges, and industry experts to develop its content, making it accessible to students worldwide. The content is in the form of course materials, video lectures, assignments, and assessments. The company has partnerships with over 325 universities and companies across the globe.
To better understand why ed-tech companies like Coursera Inc. (NYSE:COUR) offer affordability, we can look at the example of an MBA degree from The University of Illinois Urbana-Champaign, a public research university and a flagship institution present in Illinois, United States.
The total cost for an online MBA from The University of Illinois Urbana-Champaign is around $24,000 on Coursera Inc. (NYSE:COUR). Whereas on-campus, the same MBA costs more than $60,000. This cost varies with courses and program duration, as stated by the University of Illinois.
While it’s also true that some partner institutions offer on-campus courses for a lesser fee than their online courses, the final expenditure is a complicated sum. On-campus education comes with additional costs like residence, meal plans, health services, parking fees, and other associated costs. These are not reflected in the tuition fees.
An expansive view of the cityscape, showing the impact of the company’s activities in China.
Our Methodology
We sifted through internet rankings and Reddit threads about the best countries for English-speaking students to study and formed an initial list based on the consensus. We then utilized the Insider Monkey Global Education Index to select 20 countries with top-ranked QS universities. Then we ranked the countries with more top universities offering English-taught courses. The list is sorted in ascending order of the number of QS Universities (that are in the top 1000) in each country.
Note: We have excluded English-speaking countries from this list i.e. the US, Canada, the UK, Australia, New Zealand, and Ireland.
At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
The Best Country to Study Abroad for English Speakers
1. China
Number of QS Universities: 57
Tsinghua University in Beijing, China is one of the country’s, and Asia’s, finest institutions, widely recognized for its academic excellence, especially in the fields of engineering and technology. The university offers excellent education and research, with high-quality contributions to solving global challenges.
Tsinghua University offers a variety of popular English-taught programs at the graduate level, which include Business Administration, Engineering in Computer Science and Technology, Public Administration, International Relations, Environmental Engineering, Architecture, and Finance among others.
Curious to learn about other top countries for education for English speaking students? Check out our detailed analysis on the 20 Best Countries to Study Abroad for English Speakers.
At Insider Monkey, we delve into a variety of topics, however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.
Disclosure: None. This article is originally published on Insider Monkey.
Hedge Fund Resource Center