Exchange rate may change Chinese students’ mind
06 Mar 2009
One of the most important reasons for Chinese students to choose Holland instead of the UK is that it is much cheaper. But now that the gap between the pound and the euro is very small, concerned experts predict that due to this change more and more students will go to the UK for their study instead of choosing Holland or another euro-zone country.
In recent exchange rates, one pound roughly equals 10.10 RMB (35% lower than last year) and one euro equals 9.10 RMB (10% lower than last year).
According to an investigation conducted by CIBT, an international school in China, the first destination for Chinese students is still the US, the second is Australia, and the UK ranks third. In 2008 more than 80% of Chinese applicants got their American student visa.
Effect on recruitment
The high visa pass rate of the US and the exchange rate changes may have a negative effect on Dutch universities' recruitment in China in 2009.
It is time for Dutch universities to reconsider the Chinese market situation and adjust recruitment strategy where necessary.