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Economic benefits of study abroad

Study abroad also makes sense from an economic and sociopolitical perspective. The Report of the Study Group on Global Education [PDF 6,2M] (Biggs & Paris, 2017) argues that study abroad is important in addressing two major changes in the world economy. First, with increased automation, “21st century workplace skills” such as intercultural awareness, problem-solving, communication, collaboration, creativity, and adaptability are more critical now than ever before. Second, due to a shifting global economy, developing nations now make up 60% of the world’s GDP. For more information on how participation in international education equips students for this new economy, see Figure 2.2 in the report on page 11. Studying abroad helps students adapt to both changes, since it has been shown to improve skills such as intercultural communication, problem-solving, and adaptability (Souto-Otero et al., 2019), as well as helping to build networks across international borders.

The federal government (Government of Canada, 2019) offers similar economic justifications for study abroad in Canada’s International Education Strategy 2019–2024, including the need for students to develop soft skills, to gain practical experience, and to be better prepared for the workforce.