IIE Networker - Fall 2007 - (Page 38)

Knowledge Network Singapore Singapore The Global Schoolhouse By the Singapore Economic Development Board and the Education Services Division of the Singapore Tourism Board Reputable local and foreign education institutions are enjoying brisk business in Singapore, because of a national initiative to muscle in on the global education market, estimated to be worth S$3.7 trillion (US$2.2 trillion). These education institutions are capitalizing on Singapore’s proximity to expanding Asian economies and cosmopolitan yet safe living environment to market the city-state as a choice destination for high quality education. Ambitious Targets In 2002, a government economic review panel had urged Singapore to seize the opportunities that had arisen out of newly thriving Asian economies, particularly those of India and China. At the time, mature education exporters from the United States, the United Kingdom, and Australia were already on the lookout for fresh markets to tap into, and it was estimated that the demand for international education would see a four-fold increase over the next two decades— from 1.8 million students in 2002 to 7.2 million by 2025. The panel felt that Singapore’s English language competencies and strong international reputation for quality education would draw in the crowds, be it brand-name institutions looking for a respectable place to set up in or international students seeking a good degree in a stable environment with comparatively lower living costs. With that in mind, the panel set the target of attracting 150,000 foreign students to Singapore by 2015, which it said would not only create 22,000 jobs, but also boost the education sector’s GDP contribution from 1.9 percent (S$3 billion/US$1.8 billion) to 5 percent. single-digit millions, but by 2004, it was estimated that annual education investments had amounted to S$100 million (US$61.7 million) in value added and were expected to generate about 1,100 jobs. Educating the World Further boosting the city-state’s confidence is the knowledge that it has We strive to groom talent for the “Asian Renaissance,” and to firmly establish Singapore as a regional hub for education. According to the Singapore Economic Development Board (EDB), Singapore is on track to reaching the target. This optimistic outlook is justified, considering that Singapore’s international stuSinga dent intake ha seen a sharp increase has over three years, from less than 50,000 year international students in 2002 to 80,000 st international stu students in 2006. These are made up of As students seeking high Asian quality educatio close to home, as well education as students fro the U.S., Europe and from even places as far flung as Nigeria seeking a global education in a culturally diverse Asian city. Asia Investments in the education secInvestm tor have also seen a spike; before 2002, such investments were in the su already fulfilled a lofty aspiration. In 1997, the government announced its target to attract 10 world-class universities to Singapore within a decade—10 universities jumped on board in half the time, and in November 2005, EDB said it had surpassed its target by 6 universities. Recent arrivals include Cornell University and Duke University, both from the United States, which are setting up programs in collaboration with local institutions, Nanyang Technological University and National University of Singapore, respectively. There is a grander aim behind attracting top-notch institutions and students to Singapore, and it is the hope that global talent will remain in the country as

Table of Contents for the Digital Edition of IIE Networker - Fall 2007

IIE Networker - Fall 2007
Contents
Message from Allan E. Goodman
Up Front: The International Education Diary
Investing in Our Future: Reaching Underserved Audiences through International Academic Exchanges
IIENetworker University Presidents Interview Series A Conversation with Brown University President
National Policies for International Education
New Zealand
Australia
United Kingdom
Singapore
Poland
USA
Sponsored Students
Project Atlas: A Coordinated Approach to Measuring Global Student Mobility
The Browser: Index of Advertisers

IIE Networker - Fall 2007

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