The new National Export Strategy 2023 was recently released by the US Secretary of Commerce, Gina Raimondo. Consequently, it contains a complete chapter on International Education. According to the new strategy report, international education will be an industry worth $7 trillion by 2025.
Travel exports for education played a central role in this booming international education industry in the US. Also, student exchange programs such as the Fulbright Program and others help in growing international education by making the USA one of the leading countries in the field.
This is also a 2-way non-monetary benefit for the US, its institutions and the international students in the USA. Evidently, both are benefitted by competitive research opportunities, healthy partnerships between current and upcoming global leaders and gaining global competency.
Benefits of NES Strategy 2023 for International Students
The US government plans to grow and improve innovation in STEM sectors with the competitive minds enrolled in its prestigious institutions. The report discusses the benefits of practical postgraduation experiences for international students. It expands on how they can add value to the US workforce.
Therefore, the country is also considering the retention of students after the completion of their studies. New study-abroad destinations like France, Germany and Nordic countries are emerging to compete for international students. The USA finds itself in a competitive race to win more students by improving their experiences throughout.
Out of all the international students in the OECD countries, the USA hosts 15% of the total 35%. Being large in area it commands over the industry with vast facilities, institutions, better placements and continuous reforms. To attain its goal the USA will also promote inclusivity and discuss ways to support international education at various levels.
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