IDP Education (ASX: IEL) The international education market has rebounded strongly post-COVID. New Oriental Education (China’s biggest international education training and testing provider) saw 30–40% growth in 2023/24 and is targeting another 20% this year.The UK has overtaken the US as the top overseas study destination, followed by Australia. EU and East Asian destinations are also gaining share. Hong Kong has become increasingly popular post-COVID.Despite the government’s “double reduction policy” (aimed at limiting after-school tutoring), demand for private education remains high. Many institutions have pivoted to 1-on-1 training outside the formal system, driving up prices due to supply shortages.IDP’s planned entry into the IELTS (international English language testing) market via a partnership with New Channel is noted, though New Oriental considers this a small part of the overall education ecosystem.
The increasing appetite for international education should be a positive for IDP, but lower international student numbers in most markets remain a headwind. Our view on the company is more positive after our visit but we will wait to see how its IELTS launch progresses
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