As the study-abroad market gradually recovers, education enterprises are accelerating their layout in overseas education services. On May 4, reporters from Beijing Business Today found after sorting industry information that Gaotu Study Abroad opened its flagship store in Zhongguancun this April. Multiple institutions including Shiji Mingde and New Channel have launched new overseas study tour and research programmes to cater to the demands of parents and students for the summer season.

Restarted Study-Abroad Plans

“I originally planned to leave last year, but back then, entry and exit procedures were troublesome, and airfare and accommodation costs were extremely high. After comprehensive consideration, I decided to postpone it for one year,” Kong Ge, who is set to study in the UK this August, told reporters from Beijing Business Today. Although he delayed his overseas departure by a year, he gained more preparation time and extra chances to sit language exams. “Overall it was worthwhile. I got to spend more time with my family in China and also secured a better offer than I would have received in last year’s application cycle.”

Kong Ge’s case is not unique. According to research data from EIC Education, 25.3% of international students stated that reduced entry-exit restrictions and lower transportation costs this year allowed them to restart study-abroad plans delayed by the pandemic. Nearly half of prospective international students said their study plans had not been affected and they had kept preparing normally. Overall, more than 80% of students will launch or restart their overseas study plans this year.

It is not only students who are eager to go abroad. Various international education fairs have gradually resumed offline events. In April this year, the 2023 (28th) China International Education Tour Exhibition was held offline. The Beijing stop alone attracted 25,000 on-site visitors in a single day, alongside 502,000 online attendees. With the recovery of the study-abroad market, a growing number of parents, students and education agencies are devoting their efforts to overseas study planning.

Reviving Study-About Business

Beyond education fairs, the recovery of the overseas education sector can also be seen in the financial reports of some listed companies. According to New Oriental’s latest financial disclosure, for the three months ending February 28, 2023, its overseas test preparation business and overseas consulting business rose by approximately 13% and 5% respectively.

Gaotu achieved quarter-on-quarter revenue growth in its college and adult education business in Q4 2022. Gaotu’s college and adult education offerings cover postgraduate entrance exams, civil service examinations, overseas study tests and applications, medical licensing exams and more. Liu Wenyong, General Manager of Gaotu Postgraduate Exam Division, said in an interview that financial reports from various companies show overseas study and related test training have been on the rise since the end of last year. “Many companies focusing on overseas education have enjoyed solid business growth.”

“Enrolment numbers for both overseas study and postgraduate entrance exams have climbed over the past two years.” In Liu Wenyong’s view, the number of applicants for both will keep rising in the years ahead. “College students and young people still hope to improve their academic credentials to land better jobs.”

Growing applicant numbers and relaxed entry-exit policies have prompted more education firms to tap into the overseas study market. In April this year, Gaotu Study Abroad officially opened its Zhongguancun flagship store. Chen Xiangdong, Founder, Chairman and CEO of Gaotu, expressed strong optimism about the overseas education sector at the opening ceremony and noted that Gaotu Study Abroad has been recruiting top industry talent. Job postings on a recruitment platform show Gaotu is hiring IELTS teaching assistants and study-abroad consultants with monthly salaries ranging from 8,000 yuan to 24,000 yuan, matching the industry average.

Summer Study Tours and Educational Programs Take the Lead

Although overseas study application cycles are long and full market recovery will take time, overseas study tours, a pre-application background enhancement programme, have rebounded first. Reporters from Beijing Business Today found many parents are already planning overseas study tours for this summer. Xu Le, a Beijing resident, is currently exploring summer educational programmes in the UK and France. “In the past two years, I signed my child up for online study programmes. Now that international travel is available, I want my child to join a two-week overseas summer school. It helps with English proficiency and profile building.”

Xu Le told reporters that he chose the summer study tour mainly for his child’s long-term further education roadmap. “I myself studied in the UK, so we plan for my child to pursue higher education in Europe. A pre-departure study tour lets the child experience overseas student life in advance and accumulate experience for later application materials.” Xu Le’s mindset is shared by many parents.

“From what I see around me, outbound educational programmes are extremely popular this year.” According to Xu Le, many of his son’s classmates have signed up or are preparing to enrol in overseas summer study tours. “If the programme content is high-quality, my budget is around 40,000 yuan per week.” Xu Le added that he previously checked domestic study tour prices over the past two years, and many premium domestic tours also cost over 30,000 yuan. “Comparatively speaking, spending this amount on an overseas programme is more worthwhile than a domestic one.”

As parents show great enthusiasm for overseas study tours, education institutions are actively launching new products. Reporters observed that Shiji Mingde, New Channel and other education companies have rolled out summer study tour routes. Shiji Mingde has opened parent-child camps in Bali, Singapore, New Zealand, Thailand and other destinations, priced from 7,800 yuan to 46,500 yuan. New Channel International Study Tours offers summer programmes including the Ashbury College Summer School in Canada and the United Nations (Geneva) Youth Talent Development Exchange Programme, with fees ranging from 20,000 yuan to 50,000 yuan.

“Even if we cannot secure a spot on an educational tour this year, I plan to take my child on an overseas family trip,” Xu Le said. After three years of inactivity, parents’ enthusiasm for outbound study tours and international travel is set to surge this summer.