The year 2010 was epochal for South Africa’s economy and world outlook towards it started shifting. Firstly, it joined BRICS (thus appending BRIC with its ‘S’), a powerful bloc of emerging economies in December 2010, and secondly, a world investment report of the United Nations Conference on Trade and Development (UNCTAD) placed it in the top 20 economies for foreign direct investment.
Fast forward a decade later and the FDI stocks to South Africa in 2019 increased to USD 151 billion. This positive trend of foreign investments to South Africa pervaded into sectors including banking, infrastructure and transport. This huge influx of capital has ensured positive growth in South Africa. It is currently the second largest economy in Africa.
This promising future can only be sustained by world class education and a skilled workforce. And, to deliver quality education, the government has earmarked over 6.5% of GDP for education. South Africa currently has 23 public universities providing quality education to local and foreign students. There are more than 54,000 international students attending these universities, which make up for 7% of the total student population. With so much emphasis on education (including higher education), South Africa has become the education destination of the world.
With an environment conducive for growth, the demand for leaders to head businesses has grown manifold. Educational institutes offering Master’s degree in business administration have grown in reputation and offer attractive scholarships to international students. Now, scholarships are limited, hence the government has come up with several financial assistance initiatives including student loans. International students with authentic study permit can avail these loans from all major banks in South Africa.
There are several B-schools in South Africa that are renowned world over for the quality of education it imparts to students, and one such private institute is Regenesys Business School, located in Johannesburg. The campus of Regenesys, the top-ranked private B-school, has become a multicultural diversity hub that bustles with activities, both academic and social. South Africa is called “The Rainbow Nation” because of its multicultural diversity. The students of Regenesys experience this diversity in their campus where students from different parts of the world join forces to learn and build a bright future.
Another factor that either entices or dissuades a student from studying abroad is the currency exchange rates of a country. The biggest financial incentive of learning in South Africa is its stable currency, Rand, which makes study, accommodation and travel affordable.
Also, students skeptical about the medium of communication can rest assured as English is not only the medium of education, but spoken and understood by the hoi polloi. Linguaphiles have the option of learning several native languages including Zulu and Afrikaans.
South Africa is not just an economic powerhouse, but renowned for its landscape, wildlife and distinct ecosystem. And it has a history that is as colorful as its nature. Overall, a perfect country to learn, understand and enjoy.
Progressive policies and economy, positive world business outlook, renowned education institutes with attractive scholarships, and a healthy currency makes South Africa an incredible education destination for students looking to study abroad.
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