By Rob Starr, Content Manager, Big4.com
According to the new report, Extending the Campus – A Lesson in Successful Global Expansion for Higher Education Institutions, as demand for international education rises (growing at an average annual rate of 7.1 percent between 2000-2010), institutions are hoping to take advantage by broadening their footprints and brands in new geographies in both education and research.
Six Key Steps for Successful Transnational Expansion
- Outline the business case for expansion.
- Develop the full business plan.
- Conduct due diligence and negotiate the full agreement.
- Approve the agreement.
- Implement the business plan.
- Evaluate and review the project
The opportunities for higher education institutions to build revenues and reputations are ripe across the globe thanks to the growth of emerging markets and their respective burgeoning middle classes, as well the obvious impact that education has on spurring economic development and innovation.
An example of this is China which, according to research cited in the report, has invested US$20 billion in education since the 1990s and increased enrollment from five million post-secondary students in the mid-1990s to more than 34 million in 2010.