Less traditional study abroad destinations such as Germany, Ireland and Portugal are on the rise and there is ample room for institutions to use AI to personalize the student experience, according to a survey of nearly 30 Latin American educational institutions by EdCo LATAM Consulting. It has been shown that there is.
“Institutions are stretched in terms of resources and have priority markets, but the biggest challenge is understanding the key characteristics of the Latin American market: price sensitivity, support and regular communication with students. said EdCo founder Simon Terrington. Pie news.
“The challenge is understanding the sweet spot for tuition fees, which we understand is around £15,000 to £16,000 per year, but many universities charge more than that.”
The report, released on June 6, 2024, found that program tuition was the most important factor in determining student decisions, with 76% of students considering it “very” or “extremely” important.
How many colleges actually talk to students the way they want to?
Simon Terrington, EdCo LATAM
Accordingly, scholarships were considered the second most important factor, followed by work experience, which 59% of students considered 'very' or 'extremely' important, and there was a growing interest in employment support and a good return on investment. .
Contrary to expectations, Terrington noted that response time is “not as important as we think.” 76% of counselors suggested a two- to three-week response time for undergraduate applications would meet their expectations, and graduate students were even more willing to wait. .
Despite recent policy changes limiting international student enrollment in Australia and Canada, both destinations ranked in the top three most popular countries for Latin American students, with Canada being the most in-demand.
According to Terrington, Mexico, Colombia and Brazil remain the largest student sending markets in the region, but there is also growing interest in tertiary countries such as Ecuador, Panama and Bolivia, where student mobility is increasing.
Australia, Germany and Canada are the most cited countries for agents to expand their services, while Ireland and France are gaining traction ahead of the UK, which works with Latin America and already has partnerships with several agencies. Terrington said.
“You can’t ignore WhatsApp in Latin America,” he added. 90% of respondents cited WhatsApp as the primary way students communicate with advisors.
“How many universities really talk to students the way they want to? Emails can be very distant and easily ignored, but students love holding hands and I think that holding hands is a great feature of this area.”
A university's name and ranking were considered less important than price, with only 14% of participants citing the institution's name as “very” important. This shows that there is a market for smaller or less well-known universities to attract more students.
When asked about the future of educational agents, respondents agreed that success depends on adaptability, innovation and strong support services, and that there is ample room for greater use of AI to personalize student services.