Building Capital through Global Opportunities
by Carter Horiye
October 16, 2024
New shifts in technology have made the world feel as if it is getting increasingly smaller and interconnected by the day. Just one search and you could be looking at Niagara Falls and with another you could be looking at Windsor Castle or even Voortrekker Monument.
Regardless, back to the point being made, because of this endless, on-demand stream of knowledge at everyone’s disposal, students especially are becoming ever increasingly more curious about opportunities to study abroad. With the assistance of technology, prospective students can research opportunities, get in contact with potential home stays, network with other transfer students, and discover useful contacts to make adapting to a new environment much less ambiguous.
Over the past decade, the United States (U.S.) has seen a 210.75% increase in the market value for students spending while studying abroad. Within the next decade this market is projected to see additional growth of up to 220.92% in value despite the COVID-19 pandemic. Although these numbers only apply to the U.S., other countries such as South Korea for example have established programs such as the Study in Korea initiative to bring English speaking students over to their universities. In summary, the global studies market is one that is not just prevalent, but one that is experiencing tremendous growth.
What kind of value do students see in studying abroad to grow the market by such a substantial amount?
My Personal Experience
I was 13 years old, the first time I was ever given the opportunity to study abroad. Before this opportunity, I had never been outside of the U.S. and had no plans in making it a part of my future. Despite that, when the opportunity was presented to me to live in China for a month there was something intriguing about it that drew me in to learn more. Between the idea of me not speaking Mandarin and living in a new country, it was overwhelming for my middle school mind to take in. However, amidst that anxiety, I felt a call to action that was telling me I couldn’t afford to miss this opportunity. My positive experiences in China would eventually lead me to study abroad in England and South Africa where I was able to hone my language skills, learn new styles of teaching, enhance my network, discover career opportunities abroad, and see the world.
My interest in studying abroad started as nothing more than the whim of a middle schooler wanting to do something “cool”. Despite that, what it has given to me is nothing short of extraordinary. I believe the best way to summarize my experience with traveling abroad is with a quote from a journal I kept while staying in South Africa; “It is the highest form of experiential learning”. This sentence was the last thing written in my journal and it has been the statement I use to define what students can gain from studying abroad.
Generating Value for Yourself
Something I wish I understood when I was traveling in high school was how to generate value from my experiences abroad. For my first two experiences, I had no plan of how I would conduct myself and use my time efficiently. That is not to say that my first two experiences did not generate professional value for me, but I know I could have done more with my limited time then I had.
I have gone on to do much longer study abroad programs then when I had participated in my first program. I have since followed a set of rules that improve critical thinking, analysis, and self-management, 3 qualities outlined by the World Economic Forum Future of Jobs Report as the most critical skills for the global workforce moving up into 2025.
- Conduct Research
- Before committing to a study abroad program make sure it is the right “fit” for you. Acquaint yourself, at a minimum, with the basic aspects of the culture, interests, and language of the people you will be interacting with. This will help with creating individual capital by allowing you to understand how barriers could form and how to break them down.
- Create Opportunities/Absorb Information
- Being in a new place can be overwhelming, and it is very easy to get caught up in those feelings and just go through the motions of your daily routine and return to your room for the remainder of your day. Whether it is talking to someone new, asking a question, or going to a new place, taking advantage of every new piece of information you can take in creates opportunities for yourself to grow and learn.
- Analyzing Experiences
- In your travels, there will be many new things that you encounter. Regardless of what that thing may be, it is important to try and fully understand it to the best of your capabilities to see how you can apply your newfound knowledge to your own life. One main advantage and disadvantage of studying abroad is the fact that everything around you will be unfamiliar. It is important to sift through the ambiguity and apply lessons you have analyzed from your experience to your life.
By optimizing experiences that allow you to build your capital you can start crafting your edge by differentiating yourself from others in your field.
About the Author
Carter Horiye is a current student at Northeastern University, he is currently pursuing a BS in Business Administration with a concentration in entrepreneurship.
References
Ramirez, M. (2020, July 28). Technology’s impact on studying abroad. Education & Tech – Passive Magister • Active Learning. Retrieved December 14, 2022, from https://www.educationandtech.com/2016/07/mobile-technology-impact-on-studying-abroad.html
Forecast projects major growth in international enrolments through 2030. ICEF Monitor – Market intelligence for international student recruitment. (2022, July 7). Retrieved December 14, 2022, from https://monitor.icef.com/2022/02/forecast-projects-major-growth-in-international-enrolments-through-2030/
Bennett, S. (n.d.). Top study abroad market trends of 2021. edu_logga_inst_100. Retrieved December 14, 2022, from https://institutions.educations.com/insights/top-trends-2021
Why study abroad. The Power of International Education. (n.d.). Retrieved December 14, 2022, from https://www.iie.org/Programs/Generation-Study-Abroad/Why-Study-Abroad#:~:text=IIE’s%20Gaining%20an%20Employment%20Edge,awareness%2C%20curiosity%2C%20and%20confidence.
