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Higher education has become a major global industry. While the number of students studying at universities outside their own country continues to grow, the most dramatic development has been the increase in the number of students studying for a foreign degree without leaving their home country. So-called ‘transnational’ higher education, which embraces universities offering their degrees by distance-learning, through franchise partners and validated centres, as well as by setting up ‘international branch campuses’, is increasingly seen as one of the great growth industries of the future. This presentation, based on qualitative interviews with senior university administrators and higher education experts from a number of countries, provides an assessment of the growth prospects for this rapidly evolving, and largely unregulated, international market sector.