Wall Street English has launched a new franchise operation in Mongolia, with the first center opening in the country’s capital, UlaanBaatar.
Launching with partner Metro Development Group (MDG) Mongolia, the new franchisee has signed an agreement with Wall Street English to open a further four centers in the coming four years in key urban areas across the wider region. Founded in 2000, MDG Mongolia has extensive interests in mining, entertainment and construction and now aims to create economic, social and cultural value for Mongolia through expansion into education.
Spanning the territory of Mongolia and border regions of Russia, China and Kazakhstan, the new operation is targeting a gap in the market left open by a lack of innovation in adult English language education locally.
Wall Street English’s primary partner in this expansion is Mr. Odsuren Badarch, CEO of the Metro Development Group. He says, “Following a change in political regime, the region’s demand for English has grown alongside the economy. There’s a gap in the market for a more modern, innovative and flexible branded English learning approach. The Wall Street English blended learning model seemed like the perfect match.
“I understand the challenges faced by Mongolian people looking for education, having been involved the management of a number of other local educational institutions. It’s clear that what people value more than anything is flexibility in their learning, something that is currently not on offer in the adult English language learning market in the region. The Wall Street English blended learning model is highly differentiating from more traditional learning approaches available”.
Lex Baker, Director of New Business Development at Wall Street English said: “As globalisation continues, the adult English language market is growing with it. It has been estimated that the global value of the adult English language training market was in excess of US$28 billion in 2017 and it is forecast to grow by more than 80% over the next five years.Mongolia represents the latest in a string of recent moves into new markets with, 21 new center openings in 2018 and with more planned for 2019 as Wall Street English’s expansion plans are continuing apace.”
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