Education is a basic human right, a powerful tool for development, economic growth, and social mobility. According to anarticle by World of Labor, the average hourly earnings increase by 9% for every extra year of education. These numbers vary between regions; it is the highest at 12.5% in Sub-Saharan Africa. Getting a formal college education corresponds to a better salary. This difference is referred to as the "college wage premium." Education is primarily a public sector service. Governments worldwide pour significant money into education to improve their living standards and nurture economic growth.
When the pandemic hit, the education sector had to adapt quickly to the changing circumstances. Students could no longer attend schools in person, and classrooms shifted online. There was an upsurge in the number of students enrolling in online courses. Many education-centricprivate companies emerged, facilitating students worldwide. These private companies offer various services, like free and paid courses, lecture notes, productivity software, and collaborative workspaces. According to areport by Technavio, despite seeing a major transformation, the higher education market is estimated to grow by $63.36 billion, from 2022 to 2027, at a compound annual growth rate of 14.49%.
AI and EdTech
The development of AI is posing a challenge for some companies and an opportunity for others. On May 2, Reuters reported that ChatGPT is impacting the customer growth rates for Chegg, Inc. (NYSE:CHGG). On the other hand, Coursera, Inc. (NYSE:COUR) is using it as an opportunity to assist its growth. Coursera, Inc. (NYSE:COUR) has used AI to develop "personalized, interactive learning tutors" that help students learn more effectively. It has also used AI as a "content-generation course-building" tool and for language translation. Employing AI as a language translator helps reach a wider audience.
Many companies like Microsoft Corporation (NASDAQ:MSFT) have started to incorporate AI and data analytics into their productivity software. Education Insights, a feature in Microsoft Teams, uses data analytics to inform educators of students' engagement, learning progress, and well-being. Another tool by Microsoft Corporation (NASDAQ:MSFT) is Reading Progress which enables students to record themselves while reading aloud. The program notes all the challenging words and provides visual aids and additional reading exercises to help them improve. Amazon.com, Inc. (NASDAQ:AMZN) introduced theAWS Cloud, which uses AI and data analytics to facilitate education and research, enabling informed decision-making.
Effective communication has become one of the biggest challenges for online education. A significant product by Alphabet Inc. (NASDAQ:GOOG) that facilitates education is Google Workspace for Education. This software enables students and educators to collaborate and communicate easily, regardless of distance.
Noteworthy Names in the Education Industry
Microsoft Corporation (NASDAQ:MSFT) is one of the giants in the education industry. Products like Microsoft Office have enabled thousands of students to be more productive globally. During the pandemic, Microsoft Teams became one of the primary platforms for delivering lectures. On July 25, Microsoft Corporation (NASDAQ:MSFT) reported earnings for the fiscal fourth quarter of 2023. The company reported earnings per share of $2.69 and outperformed EPS estimates by $0.14. The company's revenue for the quarter amounted to $56.19 billion, up 8.34% year over year. The company was ahead of Wall Street estimates for revenue by $698.86 million.
Udemy, Inc. (NASDAQ:UDMY) is an online learning marketplace with thousands of courses and millions of users worldwide. It enables users to get enrolled in any course they want. Udemy, Inc. (NASDAQ:UDMY) allows users to upskill themselves while exploring their interests. Udemy, Inc. (NASDAQ:UDMY) reported $176.43 million in revenue for the first fiscal quarter of 2023, up 15.9% year over year.
Another prominent company, Duolingo, Inc. (NASDAQ:DUOL), is a leading language learning platform. Duolingo, Inc. (NASDAQ:DUOL) was incorporated in 2011 and is one of the most popular apps for learning a new language.
Coursera, Inc. (NYSE:COUR) is another significant online learning platform that connects students with educators. Over the past few years, the company has grown significantly. On July 27, Coursera, Inc. (NYSE:COUR) reported earnings for the fiscal second quarter of 2023. The company generated $153.7 million in revenue, up 23.20% year over year and ahead of Wall Street estimates by $7.5 million. The company offers many professional courses in areas including UI/UX design, project management, data analysis, and cyber security.
On July 28 Jeff Maggioncalda, the CEO of Coursera, Inc. (NYSE:COUR), appeared in an interview on CNBC where he talked about the role of AI in education and Coursera's degree offerings. Maggioncalda pointed out that the total market of people that are paying for college tuition is roughly $2 trillion, "an enormous market". He further said that getting a college degree might not be practically feasible for everyone and that's where Coursera, Inc. (NYSE:COUR) comes in. Maggioncalda spoke about the company's collaboration with universities to create online degree programs that can earn people a college education at a considerably lower cost. Maggioncalda sees opportunity in the online degree market.
Regarding leveraging AI for education, here's what Maggioncalda said:
"We're also building sort of content generation course building tools so that our partners can can deliver higher quality courses you know more quickly so for us it seemed like AI is turning out to be a great thing and we just launched 2,000 courses in seven languages for all the non-english speaking people around the world who want access to the Coursera content. AI is great for language translation..."
Despite the increasing popularity of remote education and online learning, there are still many individuals who fervently prefer the traditional experience of physical college education. We have compiled a list of the best non-U.S. universities in the world and now let's take a look at them in detail.
25 Best Non-U.S. Universities and Colleges in the World.
Our Methodology
To determine the best non-U.S. universities and colleges in the world, we have used data from Quacquarelli Symonds. It is a British company specializing in the analysis of higher education institutes. We have extracted our data from the 2024 QS World University Rankings database. The QS World University Rankings are based on combined metrics scores of Academic Reputation, Employer Reputation, Faculty Student, Citations per Faculty, International Faculty, International Students, International Research Network, Employment Outcomes, and Sustainability. According to the Quacquarelli Symonds’ website, this ranking integrates data from 16.4 million academic papers, 150,000 academics, and 100,000 employers.
25 Best Non-U.S. Universities and Colleges in the World
25. King's College London
Location: United Kingdom
QS Rank 2024: 40
Overall QS Score: 79.3
King's College London is a renowned university with a strong reputation for academic excellence. The graduates from King's College London, one of the best non-U.S universities, are highly sought after by employers. The university also produces outstanding research. London is one of the cities with the best education systems in the world. Thus, the location further fosters learning.
24. Institut Polytechnique de Paris
Location: France
QS Rank 2024: 38
Overall QS Score: 79.5
Institut Polytechnique de Paris is one of the best non-U.S universities in the world. It is well-recognized for its engineering and science programs. According to QS, it has been ranked 38 out of almost 1500 institutions worldwide. This high ranking corresponds to the quality of education at Institut Polytechnique de Paris.
23. Technical University of Munich
Location: Germany
QS Rank 2024: 37
Overall QS Score: 80
The Technical University of Munich was founded in 1868 and has been consistently ranked among the best universities in the world. It is one of the top universities for engineering and science programs globally.
Some of the most prominent EdTech companies in the world include Udemy, Inc. (NASDAQ:UDMY), Chegg, Inc. (NYSE:CHGG), Coursera, Inc. (NYSE:COUR), and Duolingo, Inc. (NASDAQ:DUOL).
22. EPFL(École Polytechnique Fédérale de Lausanne)
Location: Switzerland
QS Rank 2024: 36
Overall QS Score: 80.4
EPFL(École Polytechnique Fédérale de Lausanne) is one of the most prestigious universities in the world. It offers a variety of programs in science, business, mathematics, engineering, and economics. It is ranked 22 in our list of 25 best non-U.S. universities in the world.
21. University of British Columbia
Location: Canada
QS Rank 2024: 35
Overall QS Score: 81.5
It is one of the largest and most well-known universities in Canada. The strong academic programs and quality of research have earned this university its position on our list of 25 best non-U.S universities in the world.
20. The Australian National University
Location: Australia
QS Rank 2024: 34
Overall QS Score: 81.5
The Australian National University is located in Canberra and was founded in 1946. The Australian National University has consistently progressed across all disciplines and has a strong research tradition. It is one the best non-U.S universities in the world.
19. The University of Manchester
Location: United Kingdom
QS Rank 2024: 32
Overall QS Score: 82.2
The University of Manchester was founded in 1824 and is one of the largest universities in the United Kingdom. The University of Manchester has been consistently ranked among the best universities in the world.
18. McGill University
Location: Canada
QS Rank 2024: 31
Overall QS Score: 83.7
McGill University is one of the oldest and most prominent universities in Canada. It has shown remarkable growth across disciples and is one of the best universities in the world.
17. The University of Tokyo
Location: Japan
QS Rank 2024: 29
Overall QS Score: 84.3
The University of Tokyo is one of the best non-U.S. universities in the world. The institute has a strong tradition of research and academics. It is one of the oldest and most eminent universities in Japan.
16. The University of Hong Kong
Location: Hong Kong SAR
QS Rank 2024: 27
Overall QS Score: 84.5
The University of Hong Kong is one of the most prominent universities in the world. The university produces quality graduates that excel in all disciplines. It is one of the best non-U.S. universities in the world.
15. Nanyang Technological University (NTU)
Location: Singapore
QS Rank 2024: 26
Overall QS Score: 84.5
Nanyang Technological University (NTU) is one of the best non-U.S. universities in the world. It has outstanding engineering and science programs. It was founded in 1991 by the merger of two existing universities. It focuses on entrepreneurship and promotes startup culture.
14. Tsinghua University
Location: China (Mainland)
QS Rank 2024: 25
Overall QS Score: 84.9
Tsinghua University has excellent academic and research standing. Tsinghua University is one of the best non-U.S. universities in the world. The university has earned its position by performing consistently well in all disciples.
13. Université PSL
Location: France
QS Rank 2024: 24
Overall QS Score: 85.8
Université PSL is one of the best non-U.S. universities in the world. The Université PSL has a focus on interdisciplinarity and encourages students to collaborate.
12. The University of Edinburgh
Location: United Kingdom
QS Rank 2024: 22
Overall QS Score: 86.1
The University of Edinburgh was founded in 1583 and is one of the oldest universities in the world. It is one of the best universities in the world and has a strong academic reputation. The University of Edinburgh focuses on nurturing soft skills and social responsibility among its students.
11. University of Toronto
Location: Canada
QS Rank 2024: 21
Overall QS Score: 86.3
The University of Toronto is one of the best non-U.S. universities in the world. The University of Toronto has a beautiful campus and strong academic programs. It is one of the oldest universities in the world.
10. The University of Sydney
Location: Australia
QS Rank 2024: 20
Overall QS Score: 86.7
The University of Sydney has excellent research facilities. It is one of the most productive research institutes in Australia. The University of Sydney is one of the best universities in the world.
9. The University of New South Wales (UNSW Sydney)
Location: Australia
QS Rank 2024: 19
Overall QS Score: 86.7
The University of New South Wales (UNSW Sydney) is research-intensive. It has been ranked among the 20 best universities in the world by QS. The quality of research produced is one of the key components in this invariably high ranking.
8. Peking University
Location: China (Mainland)
QS Rank 2024: 17
Overall QS Score: 87
Peking University is one of the most prestigious universities in China and has been consistently ranked among the best universities in the world. The campus is beautiful, and the diversity in the student body is remarkable.
7. The University of Melbourne
Location: Australia
QS Rank 2024: 14
Overall QS Score: 87.9
The University of Melbourne is one of the best non-U.S. universities in the world. It has consistently maintained its position as a top university and is one of the oldest universities in Australia. It has a strong focus on research.
6. UCL(University College London)
Location: United Kingdom
QS Rank 2024: 9
Overall QS Score: 92.4
UCL (University College London) is one of the best universities in the world. Located in the vibrant cosmopolitan, the university provides a nurturing environment for students to grow. The university also produces quality research. UCL also encourages interdisciplinarity and motivates them to collaborate.
For investors looking to increase their exposure to the EdTech industry, some potential stocks to look at include Some of the most prominent EdTech companies in the world include Udemy, Inc. (NASDAQ:UDMY), Chegg, Inc. (NYSE:CHGG), Coursera, Inc. (NYSE:COUR), and Duolingo, Inc. (NASDAQ:DUOL).
