The Rundown #7 - 2022/23 Season Insights
As we kick on into fall and a busy travel season approaches, I wanted to use this month’s Rundown to give you a glimpse into the destination and program outlook from our side, pointing out some emerging trends and developing curiosities.
A forecast of destinations for the international travel segment
Right off the bat, I want to say how happy I am that it’s once again possible to organize an international residency almost anywhere around the world without major restrictions. The few exceptions here are China and Hong Kong which are still dealing with a challenging period of outbreaks. Japan could be added to that list, but it does have a more promising outlook for opening soon.
If we look at our recent proposals, we’ve had around 100 different cities requested by clients and are currently operating in approximately 75% of our destinations, compared to pre-covid numbers. Since the June edition of the Rundown, we’ve seen an ever-increasing interest in the Asia & African regions. Here’s a geographical breakdown of our proposal requests.
Where to visit in Asia when China, HK and Japan are inaccessible
A business and cultural powerhouse like China obviously had a great pull for MBA programs in the past so we look forward to getting back there ASAP. But the good news is we can still get groups to many captivating Asian destinations that have the ideal balance of eye-opening culture and diverse academic insights that are impossible to experience anywhere else in the world.
As it seems unlikely that we’ll get groups to China or HK for another year, much of the Asian region's interest is in Vietnam, Singapore, Malaysia and South Korea. Even without China and HK, 16% of our proposals are for Asia, so it’s safe to say we’ll see that number rise in the coming years and even more so when (fingers crossed) all countries open again!
Destination hotspots for 2023
I’ve mentioned the top spots for Asia but as you can see in our proposal breakdown, the requests for European destinations just keep coming! Most notably, the Czech Republic, Portugal, Spain, the UK, France and Greece. Honorable mentions go to the UAE, Israel and South Africa which continue to rank highly as tried-and-tested, exceptional program destinations.
For me, I’d love to see more groups getting adventurous and branching out to previously offbeat locations such as Rwanda and Puerto Rico; destinations with a growing interest from global investment, innovation and development. We’ve uploaded a few sample itineraries on our website, so clients can get a glimpse of how their program could look like.
A look at the most common program objectives
It’s possible to pick out three distinct objectives for many of our recent programs. The top spot is, of course, to enhance cross-cultural understanding and gain insights into the international business world. So, topics like ‘Doing Business in…’ or ‘Business Strategies in…’ remain the primary focal point. Secondary to this, there’s a piqued interest in ‘trending’ course specializations or Leadership topics such as ESG, Innovation, Fintech or Women in Leadership.
And the third objective, one that is always gaining popularity, is Consulting Projects. In essence, they’re the ultimate experiential learning tool for a hands-on international business experience as students boost critical thinking and consultation skills by working on challenges with local companies.
Possible changes in the method and delivery of programs
For sure, the last season was very specific due to COVID restrictions but with the pandemic easing 2023 will be much more about customizing academic content and getting students out of the conference room so they can get face-to-face with companies.
Adding a hands-on academic element to the trips and getting to work with a wider business audience will be key. As a result, we can get back to an emphasis on in-person networking events without the concern of restrictions and measures limiting event capacities. I truly believe we’ll be able to implement and utilize these changes in programs based on our Methodology and approach to experiential learning that we introduced in 2019.
We’re looking forward to a busy travel season. If you’d like to be a part of that, feel free to book a chat with me via my Calendly or send an email and let’s get planning!
Best regards,
Tomas Chalupnik
CEO
chalupnik@studyprograms.com