Tess Wilkinson is Director of Education Services at Henley & Partners.
Investment migration has many benefits, one of which is enhanced access to premium education. In unpredictable times, ensuring the best possible education for their children has become a key motivation, with many investors looking to secure world-class education for their children in top schools and universities that provide a stable, nurturing environment. Many countries that host residence and citizenship by investment programs, such as the UK, the USA, Canada, Australia, New Zealand, and numerous European countries, are home to the world’s best educational institutions.
Getting children into a world-class school or university can be very competitive, as the number of students wanting an international education continues to grow. A recent survey on the global international education market indicates the industry is rebounding post-pandemic, with enrolments projected to increase from five million in 2022 to eight million by 2030. There are predictions for strong market growth, with international students expected to spend USD 0.5 trillion studying abroad by the end of the decade.
Every parent or guardian wants to offer their children the best possible education, and more and more families are choosing international education to enrich their children’s lives. Experiencing a multi-cultural learning environment that nurtures understanding and appreciation of different cultures and supports a global outlook has many advantages. International education also provides the opportunity to study an international curriculum such as the International Baccalaureate, which is recognized globally. International students have the opportunity to develop a global network and impress universities and future employers, which value experience in international environments as they look for transferable skills such as resourcefulness, drive, and adaptability that an international education so often instills.
Premium international education can also ease the complexities of preparing children for the responsibility that goes with access to significant wealth. With the ‘Great Wealth Transfer’ of more than USD 15 trillion to the next generation by 2030, planning and preparation are essential. The skills and networks that children develop in outstanding educational settings can be applied to manage their future wealth.
There is compelling evidence demonstrating the positive impact international education can have on career prospects. Research by the National Foundation for American Policy (NFAP) found that 143 of the 582 billion-dollar companies in the USA were founded by former international students. As the NFAP’s executive director Stuart Anderson highlights, these students have had the courage to study abroad, and are resilient and ambitious for both themselves and the world. It’s not surprising that so many internationally educated students become outstanding entrepreneurs.
Interestingly, despite 70% of global demand coming from Africa and Asia, over half of the top 200 universities and 55% of the top 200 to 500 are in Australia, Canada, the UK, or the USA, which all offer investment migration programs. The UK and USA host some of the world’s best universities, and in both countries, a small group of exceptional ones, such as the Russell Group in the UK and the Ivy League in the USA, provide students with life-changing opportunities. These include universities such as Bristol, Cambridge, and Oxford in the UK and Dartmouth, Harvard, and Yale in America. Obtaining an education from one of these universities brings a sense of recognition and prestige, but also a rich network of alumni and earning potential. Research shows that attending an Ivy League university may boost mid-career earnings by as much as 28.7%.
As the migration of private wealth and affluent individuals regains traction after the disruption caused by Covid-19, many families are expected to relocate to new countries, with the Henley Private Wealth Migration Dashboard projecting that 88,000 millionaires will move by the end of 2022, and a record 125,000 by the end of 2023. Affluent investors are making plans for a new post-Covid world, and a major consideration for parents or guardians with children when choosing an investment migration program is accessing premium education, no matter the child’s age.
A 2021 perception–based survey that took into account both federal and private educational provisions and ranked countries according to their quality of education demonstrated that North American and European countries are thought to provide the best education for the world’s future leaders. Notably, 10 of the top 20 countries host investment migration programs. In 1st place was the USA, the UK 2nd, Canada 4th, Switzerland 6th, Australia 8th, New Zealand 11th, Italy 14th, Austria 16th, Spain 17th, and Ireland 20th. However, many countries not listed here, such as Portugal, have excellent international schools that offer outstanding education. But how can parents or guardians ensure they make the right choice for their children?
Owing to the rising number of clients requesting information about education as part of their application for alternative residence or citizenship, it has become apparent that providing education advice is an essential service. Henley & Partners is excited to be launching a new in-house education division, headquartered in the UK, on 27 September 2022. Its directors and consultants are all highly experienced headteachers, admissions directors, teachers, and educators with years of experience in primary, secondary, and tertiary education institutions.
Henley & Partners Education’s network of specialist consultants in Australia, Europe, the UK, and North America offer local expert and impartial advice to global clients. This new team will not only provide school placement and bespoke concierge services, but also a unique online evaluation of academic skills for children aged between six and sixteen — the Henley Academic Profiling Assessment — to provide a snapshot of a child’s academic skills. The results can be used to demonstrate a child’s performance to future schools as well as to monitor their academic progress and identify possible areas for improvement.
Our comprehensive knowledge of global education combined with our unique, professional, objective assessment of each child’s individual requirements will result in their successful placement in the most suitable school or university, preparing them for what lies ahead in the 21st century.