Greece has experienced significant financial and political upheaval since the beginning of the economic crisis in 2008-09 which brought deep-routed structural and procedural problems into light. The situation remains challenging with budget deficit increasing and unemployment rising to 23.6%. The country has a long road to recovery ahead; however some resources are hopeful that the situation will improve in the near future. Austerity measures were implemented and are likely to characterise the country’s policies in the future. The coalition government is intensifying its efforts to boost competitiveness and attract foreign investment in order to overcome the crisis and create new jobs.
Despite the adversities and uncertainties, Greece remains a vibrant market for UK education. The increasing unemployment, the poor economy, delays and failures in the implementation of structural reforms in various sectors including education and the wider pessimistic climate in country urges young people to consider leaving the country more than ever before for better education and employment prospects. UK NARIC reports a 62% increase of applications for assessment from Greece compared to 1998, the highest among countries within the Euro-zone that means that well qualified individuals are increasingly coming to the UK to work and / or study.
For Greeks, the UK has traditionally been the most preferred education destination for studies abroad and it is estimated that there are 300,000 UK Alumni in Greece. This shows the powerful and influential brand of UK education and this is a unique advantage UK institutions have in the Greek market. UK and UK Education have a long term benefit to remain the leader in the Greek market taking into consideration that European competitors are gaining ground due to lower or no fees for courses and Greeks’ shrinking purchasing ability who increasingly look for low-cost study options.
In addition to undergraduate courses that remain on demand, interest for postgraduate qualifications is likely to grow especially those linked with work placement or leading to fast employment opportunities. Demand for skills development in FE and HE is also likely to grow and partnership opportunities with local providers for in-country delivery could be an area of potential interest. Demand for UK courses delivered in Greece is likely to grow due to lower cost of investment than studies in the UK. Demand for scholarships will rise as any government subsidies, grants and scholarships previously offered by the Greek government have seen significant reductions.
Our portfolio of education promotion and support services encouraging Greek students’ decision to study in the UK and facilitating their access together with your marketing investment in the Greek market via SIEM services will enable us to sustain and grow the interest in UK education despite the challenges.