Enterprise Ireland plans to double the revenue generated from foreign students studying here to €600 million by 2008 by targeting new markets in Asia. Jamie Smyth, Technology Reporter, reports from Seoul.
The agency will today unveil a promotion programme for the Irish education sector on the opening day of a Government trade mission to South Korea and Japan.
The mission is being led by the Minister for Enterprise, Mr Martin, who will open the first Enterprise Ireland office in South Korea.
About 40 Irish companies in a range of sectors will take part in the trade mission - the first for several years to the two states. Eleven Irish third-level institutions and four English language schools are taking part.
Enterprise Ireland estimates that foreign students studying in the State generate up to €300 million per year in revenues.
"About half of the €300 million is made up of student fees and the rest is off-campus spending," said Mr Frank O'Connor, manager of international education at Enterprise Ireland. "We will try to double this figure by 2008 by opening up new markets."
Several thousand overseas students study at Irish colleges. However, less than 150 of these come from South Korea and Japan. Research by Enterprise Ireland shows there is potential in both markets. It also wants to diversify a current over-dependence on the Chinese and Indian markets.
Yesterday, Mr Martin said the Government's strategy identified the need to raise awareness of the Republic in the Asian markets.
"Japan is set to grow faster than most of the other G7 countries for the next three years and, over the past five years, has become a lot more open to foreign imports," he said.
Enterprise Ireland yesterday announced that Dr Brian O'Neill has been appointed as its representative on the US federal health research agency, the National Institutes of Health. The appointment is aimed at strengthening the link between Ireland and the US in the biotech sphere. Dr O'Neill is currently a commercialisation specialist in biotechnology with Enterprise Ireland.
