1.4 billion adults globally open to taking an English language course, boosting market for adult providers.
Adult English language training market worth in excess of US$28 billion and forecast to grow by 80 per cent over the next 5 years.
A new research study, called The Global English Language Report and presented by Wall Street English, predicts that English language learning is all set to grow globally. The global market for English language learning is set to reach 1.4bn in the next five years. Wall Street English prepared the Global English Language Report in partnership with YouGov, the market research and data analytics firm, and includes data from interviews with over 4,000 people globally. Its findings demonstrate the huge potential for English language tuition in an increasingly connected world, with Wall Street English announcing plans to expand in five new global markets representing opportunities for franchise partners and investors to capitalise on significant predicted growth.
The research reveals that as globalisation continues, people are conscious that English skills will become increasingly necessary. Nearly three quarters (73 per cent) think it will become more important to learn English over the next five years to improve their life prospects. 65 per cent cite being able to build relationships with people around the world as business becomes even more global. A further 54 per cent say this is because understanding specialist terminology related to professional life will be a must, while half (51 per cent) believe employers will increasingly look for a good level of English when hiring.
It has been estimated that the global value of the adult English language training market was in excess of US$28 billion in 2017 and is forecast to grow by more than 80 per cent over the next 5 years.
The pool of potential learners is continually refreshed as people graduate from school and enter the adult learning market. Motivated by personal development (63 per cent), enjoying travels more (45 per cent) and increasing earning potential (40 per cent), consumers are looking for tuition that helps them achieve their career and personal goals.
The biggest opportunities of the markets surveyed lie in Chile (71 per cent), Indonesia (69 per cent), and China (59 per cent), each expressing the highest levels of intention to take an English course in the near future.
Wall Street English is a franchise business looking to capitalise on growth opportunities with prospective franchisees and investors.
Lex Baker, Director of New Business Development at Wall Street English comments: “English is the dominant language of global business and politics and is further accelerating as a result of globalisation and connectivity. This research is a validation that demand for English language learning is on the rise. What’s interesting is that consumers are aware of the increasing need to have good proficiency in English to be able to get ahead in the workplace.
“With a pool of 1.4 billion, this market is ripe for investment. From Chile to China, Wall Street English is an ideal partner to help our expanding network to implement our tried and trusted blended method whilst generating significant business benefits.”
