The Economic Impact of COVID-19 on Study Abroad Service Agents in China

ABSTRACT

With the outbreak of global pandemic COVID-19, many students are worried about the health issue overseas and consider to cancel or delay the study abroad plan. The decrease in the number of study abroadstudents affect the study abroad agents in China. The work discover how Covid-19affects the study abroad industry in China economically through analyzed thefirst fiscal quarter financial statements of two listed study abroad service inChina which are New Oriental and Puxin Limited and compare the result with the first fiscal quarter financial statement in 2019. New Oriental is a large scalecompany and Puxin Limited is a relatively small scale. Both company face a lossfrom first fiscal quarter, and the financial issues alleviated by change inbusiness mode like OMO. The result can helps exited agents to make the righteconomic decision and give suggestion to agents who want to enter this industry.