Do American Boarding Schools Face Growing International Competition?
The UK has it’s own financial mess on its hands- much like ours with over valued and leveraged real estate and the loans behind real estate purchases gone south- with pound sterling headed south in a directly proportional relationship.
So what does this mean to American boarding schools? For years American boarding schools have been recruiting students overseas and international students have become part of the boarding school fabric. If this Reuters’ article (Elite schools seek strength in sterling’s weakness) is correct and English schools seriously pursue a larger international population, it adds element of competition for international students for American boarding schools.
Richard Murphy, a research economist at the Center for the Economics of Education, told Reuters:
“The pound has weakened against the yen by 40 percent since January last year, so we expect more foreign students from Asia…It will be harder for U.S. private schools to attract foreign students, the demand will be bigger for private schools in the UK because of the good exchange rate…” (Reuters)
Also from the article, “Dominic Scott, Chief Executive of the UK Council for International Students’ Affairs, said he expected increasing numbers of well-off students to come to private schools in Britain, especially from China, Malaysia and Singapore.”
Increasing competition for international student will require American boarding schools to hone their messages and make their strengths sharper than ever. American schools- public and private- are still the best in the world at educating and nurturing the widest range of kids imaginable.