International students will not be granted visas if they are enrolled in American college courses that are completely online. Students must find a programme with in-person classes to be able to stay in the United States
Having their children study abroad has become one of the main aims of both China’s ultra-high-net-worth individuals and the country’s affluent, upwardly mobile middle class. A recent survey by Kai Tak Education found that 83 per cent of Chinese millionaires want their children to study overseas – mostly in the West. Considering an estimate by Swiss bank Credit Suisse that there are more than 100 million Chinese in the top 10 per cent of world’s richest people, there are a lot of well-off Chinese students out there.
“Young Chinese consumers view ownership and affiliation with designer brands as a form of social capital,” says the McKinsey Luxury China Report 2019. “[They are] not just something to wear, but a lifestyle choice that marks them as part of a distinct and exclusive community. Most these young consumers are fresh to market, presenting both a tantalising opportunity and an implicit imperative for brands to stay current, or risk losing out to more digitally savvy rivals.”
These students have enough spending power to shape entire Western luxury markets. Britain’s designer brands have been struggling since the country voted to leave the European Union in 2016.
While the political situation in the UK is making locals more cautious than ever about spending money on luxury goods, the opposite is true of the Chinese students who are making London their home. Carry on like this, and British designer brands hoping to weather the Brexit storm might end up showing their collections during freshers’ week.
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