• Aug 22, 2023
• Kawaljeet Kaur

Student Housing Providers Experience Explosive Growth Amidst Rising Study-Abroad Trends

The realm of education is evolving, and student housing providers are riding a wave of remarkable momentum. Leading platforms like University Living and UniAcco are not merely thriving; they are flourishing, meeting the accommodation demands of students worldwide.

These homegrown platforms are poised for annual growth rates of 2-3 times, driven by burgeoning interest from both Indian and international students. Initially geared toward assisting Indian students studying abroad, these platforms have transformed into international hubs, with 70-80% of their users hailing from around the globe.

Saurabh Arora, CEO of University Living, offers insightful perspectives on the post-pandemic resurgence of student mobility. With a staggering Compound Annual Growth Rate (CAGR) of 130%, they have successfully accommodated over 10,000 students in just the last quarter. Saurabh Goel, CEO of Amber, envisions a global international student count exceeding eight million. Amber, expanding its horizons beyond Indian borders, now serves students from 50 different nations. Supported by visionary investors, UniAcco is embarking on a path of 3x year-on-year growth, fueled by a $10 million investment. Their expansion into the US, focusing on cities favoured by Indian and Chinese students, is a strategic move aimed at creating a global impact.

University Living's ambitious expansion plan encompasses establishing a strong presence in Australia, the US, Canada, the UK, and Ireland. Amber's remarkable growth journey is vividly apparent, surging from 5,000 bookings in 2020 to a staggering 45,000 in 2021. They now aim to achieve 75,000-80,000 bookings this year, a testament to their unwavering dedication and innovation.

The resurgence of the student mobility sector post-pandemic has propelled these platforms into a realm of unprecedented growth. As they set their sights on global expansion and continue to redefine the student accommodation landscape, competition within this market segment is reaching new heights.

Stay tuned as these platforms redefine the student accommodation experience and shape the future of education worldwide. 

For more follow-up on this news visit this website: https://m.economictimes.com/nri/study/rise-in-study-abroad-numbers-fuels-student-housing-boom/articleshow/102780650.cms

Originally Published in Economic Times