Wall Street English: New Study Reveals English Language Learning Set for Significant Growth
BARCELONA, Spain, January 14, 2019 /PRNewswire/ --
- 1.4 billion adults globally open to taking an English language course, boosting market for adult providers[1]
- Adult English language training market worth in excess of US$28 billion and forecast to grow by 80% over the next 5 years[2]
A new research study released today reveals the significant potential of English language learning globally, with levels of prospective learners predicted to grow to 1.4bn, delivering significant market increases over the next five years. The Global English Language Report, presented by Wall Street English, the adult English language learning provider, identified population growth, urbanization, mobility and advanced connectivity as key drivers of this trend.
The Global English Language Report, was prepared 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 capitalize on significant predicted growth.
The research reveals that as globalization continues, people are conscious that English skills will become increasingly necessary. Nearly three quarters (73%) think it will become more important to learn English over the next five years to improve their life prospects. 65% cite being able to build relationships with people around the world as business becomes even more global. A further 54% say this is because understanding specialist terminology related to professional life will be a must, while half (51%) 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% over the next 5 years.
An ever-growing pool of learners
The pool of potential learners is continually refreshed as people graduate from school and enter the adult learning market. Motivated by personal development (63%), enjoying travels more (45%) and increasing earning potential (40%), 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%), Indonesia (69%), and China (59%), 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 capitalize 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 a 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."
Wall Street English is planning to expand into five new global markets and is seeking franchise partners and investors to develop the business in Spain, Germany, Poland, Taiwan and Egypt in particular. 2018 saw another successful run of center openings, with 21 successful new openings and with more planned for 2019 Wall Street English's expansion plans are continuing apace.
A full copy of The Global English Language Report is available for download:
For more information about Wall Street English's franchise proposition, please visit: https://www.wallstreetenglish.com/franchising/
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Notes to editors
[1] The Global English Language Report, presented by Wall Street English (2018)
[2] The Global English Language Report, presented by Wall Street English (2018)
Research was conducted by YouGov and comprised interview with 4,058 workers / students aged 18-50 interviews with English and non-English speakers across eight markets in July 2018. The markets were Italy, Germany, Russia, India, China, Indonesia, Japan, and Chile.
About Wall Street English
Wall Street English is a world leading English language training network delivering proven and effective English courses to adults and is recognized as a best-in-class blended learning platform that provides a premium lifestyle experience to its students. Wall Street English's success is underpinned by a strong brand, a track record of growth and innovation since 1972. Through company-owned and franchised centers, Wall Street English has provided instruction to over 3 million people. The business currently serves over 180,000 students through more than 400 learning centers in 27 countries across Africa, Asia, Europe, Latin America, and the Middle East.
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