It is a widely accepted maxim that, like business generally, higher education is internationalising. For many countries, higher education is now a vitally important export sector, with many university campuses attracting international students from around the world. Licensing production, in the form of franchising degree provision to international partners, is beginning to mutate into foreign direct investment as many universities set up campuses in other countries. Driven by advances in information and communication technologies and the growing hegemony of English as the world’s common language, higher education has followed the classic pattern of globalisation so familiar in international business. Or has it? This seminar challenges the orthodox view and offers a different interpretation of developments, offering a different vision for the global higher education ‘industry’ of 2020.