According to The PIE News, ALTO (The Association of Language Travel Organisations) has recently conducted a survey called The Impact of Global Inflation on the International Education Industry, which reveals that most agents and schools cannot absorb or sustain any further financial losses and that agents may need to increase their rates by as much as 9% by 2023, due to the effects of global inflation.
The 9% figure is what the 89% of 122 organisations (with both agents and schools participating) believed prices would need to increase by; however, three out of four of those organisations believe that clients would only be prepared to pay up to 6% more.
Asked about the necessity of price adjustments more than once in a year, over half of all participants said it was not necessary – even more of the agents surveyed, 74% said it wasn’t needed.
Schools were more prepared for the idea, with 49% rejecting the need, but 22% of them did say twice a year would be beneficial. Some 19% of agents said that prices should be adjusted “whenever necessary”.
Read the full story here.