More evidence of the impending collapse of international student business into the US. India down by 50%. That will impact IDP's business in the Indian market where IDP is particularly strong.
The USA was a growth market for IDP with significant resources invested into developing new University partners and growing University commissions. Half of the 50 new University partners signed in 2024 are in the USA. The impact on future projected revenue likely to be greater than the hit on existing revenue.
Some of these students will be diverted to Australia and the UK.
Other sources indicate China and Vietnam less heavily impacted than India with lower rates of visa refusals. Africa hit more heavily than India with few signs of any visa grants in recent months.
IDP's US business should be considered impaired for the foreseeable future. I'm interested to see how this will be addressed in next week's annual report and how management intends to find new sources of growth.
IEL Price at posting:
$4.85 Sentiment: Buy Disclosure: Held
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