One of the most significant changes in recent years has been an evolution in the role of education in the global arena. As education has increasingly assumed the role of a tradable service, countries from all parts of the world have become active participants in the ongoing internationalization of higher education. One of the key outcomes of this process has been the phenomenal growth in international student mobility since 1998. A burgeoning industry which generates revenues of up to 90 billion dollars clearly spells strong financial incentives for participants of this industry.  It also implies that factors influencing international student flows have serious implications for the providers as well as consumers of higher education abroad.Â