The 8 megatrends identified include (1) Aging world (2) Labour market shifts (3) Skills mismatch (4) Rapid urbanisation (5) Stricter immigration policies (6) Economic Shifts (7) Capacity imbalance (8) Budget pressures.
The maturing global population is encouraging institutions to discover new methods to educating and employing the greying society throughout their career and beyond. Escalating pace of automation and skills mismatch will result in changing demands for market-relevant skills and retraining of talent. More people will move to the cities due to rapid urbanisation which in turn will propel interest for accessible and flexible learning models.
Despite demographic challenges, stricter immigration policies in advanced economies may make it harder for finding migration pathways. Economic growth in emerging economies will drive demand for widening admittance to higher education. It will also drive aspirations and capacities to afford studying abroad. Imbalance in demand for higher education among youth population in emerging economies and large supply of institutions in advanced economies will provide opportunities for engaging through international recruitment and transnational education. Public defunding of higher education will continue with increasing expectations of self-funding through enrolment growth and academic innovation.
By 2030, there is an estimated increase of close to 120 million students in higher education and 2.3 million internationally mobile students. Further, there will be 163 million more young adults with a tertiary degree compared to those in 2013.
In addition, international student enrolment potential in advanced economies will increase by one percent annually between 2015 to 2030; which will translate to 412,00 more students in 15 advanced economies. While, international student enrolment potential in emerging countries will increase by one percent annually between 2015 to 2030, which will translate to 65,000 more students in six emerging economies by 2030.
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Join us in the upcoming QS-APPLE 2018 from 21-23 November 2018 in Seoul, South Korea, as we discuss the topic on “Future Universities in the Asia-Pacific: The Changing Face of Higher Education”.