An area that we think is particularly attractive for investors in education are businesses that focus on international student mobility. There are approximately six million international students enrolled in higher education, mainly from markets such as China, India, the rest of Asia and Africa, seeking high quality education in Anglophone destinations. International student growth has been constant over the last ten years. We've typically seen growth rates of five to seven percent on an annual basis.
There was a dip down in COVID and a sharp recovery thereafter. Universities need international students to support their finances. Typically, students pay more than domestic students and are growing faster than that cohort. There are some fundamental drivers that continue to support the demand for high quality education from international students coming to Anglophone markets.
Firstly, the inadequate provision of high quality education in their home markets.
Secondly, access to really high quality professors and English. Thirdly, rising affordability that makes private education more desirable and achievable, and a desire for higher quality of living in some of the developed markets they move to.
We believe that international students flow will continue unabated over the next few years. Students will continue to want high quality education in these Anglophone markets and rising affordability and parental preferences support these choices. A number of businesses that have supported international student growth have achieved scale and are attractive to investors. These include pathway providers, private universities and international recruitment agents. The most successful businesses in this area will be able to segment their students based on their aspirations and purchase criteria.
