The survey of nearly 30 Latin American education agencies by EdCo LATAM Consulting revealed less traditional study abroad destinations such as Germany, Ireland and Portugal are on the rise, and highlighted ample room for agencies to personalise the student experience using AI.
“Institutions are stretched resource-wise, and they’ve got their priority markets, but the principal challenge is for them to understand the key characteristics of the Latin American market, so that is price sensitivity, handholding, and being in regular communication with students,” EdCo founder Simon Terrington told The PIE News.
“The challenge is understanding the sweet spot for tuition fee which we understand to be around £15,000 – £16,000 per year but many universities charge more than that.”
The report, published on June 6, 2024, found the program tuition fee the most important factor shaping student decision making, with 76% of students considering it “very” or “extremely” important.
How many universities really chat to students the way they want to?
Simon Terrington, EdCo LATAM
Accordingly, scholarships were deemed the second most important factor, followed by work experience which was considered “extremely” or “very” important by 59% of students, increasingly concerned about career support and getting a good return on their investment.
Contrary to expectations, Terrington noted that response time is “not as critical as we think”, with 76% of agents suggesting that a two- or three-week response time for undergraduate applications would meet expectations, with postgraduates showing even more willingness to wait.
Despite recent policy changes limiting international student enrolments in Australia and Canada, both destinations ranked in the top three most popular countries among Latin American students, with Canada the most in demand.
While Mexico, Colombia and Brazil remain the region’s largest sending markets, there is growing attention on tertiary countries such as Ecuador, Panama and Bolivia that are seeing an increase in student mobility, according to Terrington.
Australia, Germany and Canada came in as the most cited countries for agents to expand their offerings, with Ireland and France attracting notable attention ahead of the UK which was “ahead of the game” working with Latin America and already has partnerships with several agencies, said Terrington.
“WhatsApp cannot be ignored in Latin America,” he added, with 90% of respondent citing it as the primary way in which students communicate with agents.
“How many universities really chat to students the way they want to? Emails seem very distant and are easily ignored but students love the hand holding and I think hand holding is a big characteristic of the region.”
The name and ranking of universities were deemed less important than price, with only 14% of participants citing the institution name as “extremely” important, showing there is a market for smaller or lesser-known institutions to attract more students.
When asked about the future of education agents, respondents agreed that success with depend on adaptability, innovation and robust support services, with ample room identified for the greater use of AI to personalise student services.
