2012 isic association annual report
DESCRIPTION
Annual report of the ISIC Association, over the year 2012TRANSCRIPT
2012 ISIC Association Annual Report
International Student Identity Card
You are a student
International Student Identity Card (ISIC)
ISIC and the ISIC logo are registered
trademarks of the ISIC Association.
Published by
ISIC Global Office B.V.
174-176 Keizersgracht
1016 DW Amsterdam
The Netherlands
Telephone +31 (0)20 520 0840
Email: [email protected]
www.isic.org
www.facebook.com/ISIC.GlobalOffice
@ISICGlobal
theisicglobaloffice
The ISIC Association is a non-profit
organisation seated in Denmark. The
operations of the ISIC Association are
carried out by the ISIC Global Office B.V.,
an independent management company
based in the Netherlands and wholly
owned by the ISIC Association.
Cover photograph by Juraj Nosal 60 Great ISIC Experiences Student Photo Competition entrant
Our mission
The mission of the ISIC Association is:
To provide all bona fide students, regardless
of their nationality, race, gender or religion,
with the opportunity to prove their student
status in every country worldwide, via an
official and affordable identifier of student
status. This unique identifier aims to allow
students access to preferential travel opportu-
nities, specially negotiated services, discounts
and experiences in every area and stage of
student life, consequently reducing the cost of
being a student. As such, the ISIC Association
aspires to play a supporting role in improving
intercultural understanding and increasing
educational opportunities for all.
The ISIC card has been endorsed by the
United Nations Educational, Scientific and
Cultural Organization since 1968.
The ISIC Association is a founding member
of the World Youth Student and Educational
Travel Confederation, which aims to bring
together specialists in student and youth
travel services from around the world.
ISIC Annual Report 2012 3
Table of contents
About ISIC 5
Spotlight: The global environment 6
A message from the Board Chair and General Manager 7
Spotlight: 1953 to today, the development of the ISIC card 8
Governance 11
ISIC Association members 13
Global distribution 14
ISIC territories 16
Global partnerships 23
Online and IT initiatives 24
International recognition and endorsements 27
ISIC outreach 28
ISIC Event and training 30
Financial activities 32
4
ISIC Global Office, Amsterdam, the Netherlands
ISIC Annual Report 2012 5
About the International Student Identity Card (ISIC)
The ISIC Association is a membership organisa-
tion whose 51 members from across the globe
are the organisations that hold the exclusive
license to distribute, promote and develop the
ISIC card within their territory or country.
In 2013 the ISIC card will celebrate its 60th
Anniversary, a significant milestone in student
history. Historically, the ISIC card provides
students with access to exclusive discounts
on travel opportunities, allowing cardhold-
ers to explore the world and discover new
countries, cultures and languages in support
of the pioneering mission statement for the
ISIC card from 1953: “Increasing international
understanding through the promotion of travel
and exchange opportunities among students,
young people and the academic community”, a
mission statement that remains relevant to-
day, almost 60 years later.
Today, the portfolio of services goes far beyond
travel alone, allowing ISIC cardholders to gain
preferential access to 40,000+ products, ser-
vices or experiences that are relevant to every
stage and area of student life. The ISIC card is
now issued to students in 127 countries, with
over 5 million valid cards in the hands of stu-
dents each year, regardless of their ethnic
or cultural origin, religion, sexual orientation,
political persuasion or social standing. Since
its creation in 1953, the ISIC card has sup-
ported over 105 million students across all
corners of the globe through their studies.
With the extensive range of opportunities
available to ISIC cardholders worldwide, the
ISIC Association aims to play a supporting
role in improving intercultural understanding,
increasing learning opportunities and sup-
porting everyday student life across the world.
In recognition of the ISIC card as a unique
document encouraging cultural exchange and
international understanding, the card has
been endorsed by the United Nations Educa-
tional, Scientific and Cultural Organization
(UNESCO) since 1968.
The ISIC card is administered and managed at
an international level by the ISIC Global Office
B.V., seated in Amsterdam, the Netherlands.
The non-profit ISIC Association, which is le-
gally registered in Denmark, is the sole share-
holder of the ISIC Global Office B.V..
The ISIC Association is the non-profit organisation behind the International Student Identity Card (ISIC), the only internationally accepted proof of bona fide student status.
6
Spotlight: The global environment2012 was a year of steady progress for the ISIC Asso-
ciation following the momentum gained from the estab-
lishment of an independent entity, ISIC Global Office
B.V., on 1 January 2012 to enable greater centralised
management and administration of the ISIC card.
The creation of the ISIC Global Office saw ISIC oper-
ations and management shift away from International
Association Services (IAS), the company that was pre-
viously contracted to centrally manage the ISIC card
on behalf of the ISIC Association. This move allowed
for greater control of the ISIC programme and an in-
creased focus on the ISIC card as product in its own
right with promising growth potential.
The ISIC card has a rich and unique history. With the
60th Anniversary of the ISIC card just around the
corner (2013), the need to keep pace and adapt with
the changes in student life and global environment
Photograph by Teodora Tudo, 60 Great ISIC Experiences Student Photo Competition entrant
becomes all the more important in order to continue
to strengthen the ISIC programme to allow the ISIC
Association to best support the student community
internationally.
On a whole, the economic and social environment
witnessed in 2012 provides a challenge for ISIC op-
erations. The ISIC Association is not exempt from the
impact of the global economic situation, with a number
of key markets feeling the effects. Likewise students
are increasingly facing demanding circumstances with
rising living costs and tuition fees across the globe.
In light of these challenging times, the ISIC Associa-
tion continues to be proactive and adapt its services,
strategy and approach to ensure as many students as
possible have access to an official, affordable identifier
of student status, as well as relevant benefits and dis-
counts to support them through their studies.
ISIC Annual Report 2012 7
A message from the ISIC Board Chair and ISIC General Manager
“Stay the same and reinvent yourself”, or “stay
the same and improve yourself”, both sound
like good examples of a contradictio in ter-
minis1. But how can one reinvent or improve
themselves, yet stay the same? As contradic-
tory as it may seem, the ISIC Association has
done just that. ISIC has been able to perse-
vere, develop, adapt and improve through
nearly 6 decades and establish itself more
firmly than ever as the only internationally ac-
cepted proof of student status. How? Simply
by staying the same, whilst in parallel improv-
ing and reinventing itself. Year after year.
When we look at the 2012 version of the ISIC
card in comparison to its original counterpart
created back in 1953, we are nothing but
proud to conclude that the ISIC card is still
what it was back then. It is still the only inter-
nationally accepted, official proof of student
status. It is still available only to eligible, bona
fide full-time students. It is still an access tool
for students to relevant benefits, discounts,
services and opportunities in the areas of
travel, culture and education. And it still aims
to reach as many students in as many coun-
tries as possible.
To achieve this, ISIC has had to reinvent itself
continuously. For example, compared to 1953
we see a completely different distribution and
governance model. The card design, shape and
format have evolved from paper to the plastic
card we distribute today. A vast proportion of
ISIC cards have been merged with other cards
and services, to include payment functions,
access to public transportation and/or to be-
come university college cards. International
recognition and official endorsements have
grown significantly and communication with
cardholders has gone ‘social’.
Matt East
Chair of the ISIC Association Board
Martijn van de Veen
General Manager of the ISIC Global Office B.V.
The process of ‘reinventing and improving’
did not stop in 2012. In the year 2012 the
ISIC Association took greater control of the
management of the ISIC card by setting up
its wholly owned, centralised management
company: ISIC Global Office. In 2012 global
distribution grew to more than 5 million valid
cards in the market across an impressive 127
territories internationally. 2012 was also the
year that new IT tools were introduced to in-
crease the efficiency of central administration
and saw license fees for card issuers reduced
by 20 percent.
We are on the eve of one of the most dramatic
reinventions of ISIC since its creation: in 2013
– exactly in the year when we celebrate 60
years of the ISIC card – we will be introducing
the ISIC Cloud. The ISIC Cloud is a digital ver-
sion of ISIC that in the future is expected and
intended to replace the plastic card as carrier
and proof of student identity.
In spite and because of the introduction of
the ISIC Cloud, ISIC will still represent and
uphold the same core values as it did 60
years ago. Even in another 60 years from
now, ISIC will still represent and uphold those
same core values – while continuously being
reinvented and further improved. ISIC will
keep doing what it does best: to provide stu-
dents with international proof of their student
identity and relevant benefits, discounts and
services, allowing them to enjoy evermore op-
portunities in the areas of travel, education
and daily student life. Simply by staying the
same and by improving and reinventing itself.
Year after year.
Stay the same and reinvent yourself
1Latin expression for a combination of words whose meanings are in conflict with one another.
8
Spotlight: 1953 to today, the development of the ISIC card
Birth of the ISIC card
The decision to create
the ISIC card was an
initiative of the Norwe-
gian and Dutch Union
of Students, supported
by the Coordinating
Secretariat of National
Unions of Students
(COSEC) of Denmark,
at the 3rd International
Student Conference in
Copenhagen in 1953
where the resolution
to “take the necessary
steps to ensure that an
International Student
Identity Card be made
available as soon as
possible in as large a part
of the world as possible”.1
In order to get access
to discounted airfares
students would obtain
an ISIC card allowing
them to explore the
world and discover new
countries and cultures.
This supported the ISIC
card’s pioneering mission
statement: “Increasing
international understand-
ing through the promotion
of travel and exchange
opportunities among
students, young people
and the academic
community.”
Early years
of distribution
One of the main
attributes of the ISIC
card’s early successes
was the close involve-
ment of universities and
national student unions.
Over the 5 years since
the ISIC programme
was first launched, an
estimated 333,000 cards
were sold, 275,000 of
these through National
Student Unions.
1 Quoted from the minutes of the 3rd International Student Conference in 1953.
The ISIC card has a rich history and promising future. First created by students for students in 1953 during a time period when the Western world was focused on fostering mutual cooperation and understanding following World War II, the ISIC card has gone on to become available in 127 countries, with over 5 million valid cards in the market each year.
UNESCO endorsement
The official status of the
ISIC card led to greater
acceptance worldwide.
From the early begin-
nings the United Nations
Educational, Scientific
and Cultural Organization
(UNESCO) was involved
in the development of the
card leading to an official
endorsement in 1968
with UNESCO recognising
the ISIC card as the only
internationally accepted
proof of full-time student
status and a unique docu-
ment encouraging cultural
exchange and interna-
tional understanding.
From day 1, the ISIC card
has allowed students the
world over to prove their
official student status,
and now the card also
gives them access to over
40,000 targeted student
benefits and discounts
across a wide network
of 120,000 locations
around the world.
1953 1968
ISIC Annual Report 2012 9
Travelling the world
After the valuable
UNESCO endorsement
in 1968, the 1970s and
1980s brought a steady
expansion in the number
of issuing countries as
well as ISIC card benefits.
Strong relationships
with a network of
well-known, reliable
airlines gave students
access to affordable
and flexible student air
travel, allowing them to
explore and learn from
the world around them.
Further recognition
In 1993 a renewed
Memorandum of
Understanding (MOU)
was signed by the ISIC
Association and UNESCO
providing permission to
include the UNESCO logo
on the ISIC card. The
MOU details UNESCO’s
aim to promote young
people’s access to
mobility and educational
and cultural experiences.
Leading up to the early
2000s UNESCO and
ISIC worked together
on various initiatives
aimed at supporting
this objective, including
preferential access to
World Heritage sites for
cardholders, and joint
promotions and outreach
encouraging intercultural
understanding.
New millennium –
new direction
From the new millennium,
the need to reposition
the ISIC card as an
everyday use student
lifestyle card became
evident. The introduction
of budget airlines and
online flight reservation
sites meant a student
card orientated purely
towards travel conces-
sions was becoming less
relevant. In 2001 it was
agreed to increase the
card’s value proposition
and provide offers and
services that meet the
needs of students on a
daily basis both when
they were at home and
travelling abroad.
Broadening the
ISIC network
The ISIC card’s shift
in focus opened doors
to new opportunities
for partnerships within
leading organisations
that recognised the
global potential and
network of the ISIC
card. The late 2000s
saw valuable strategic
partnerships estab-
lished with the likes of
MasterCard, Microsoft
and The Economist.
The ISIC Association is
proud to have supported
over 105 million students
throughout their studies
since 1953. A number
of new ISIC programme
initiatives currently
underway help guarantee
a bright future for ISIC
with new and innovative
opportunities ahead.
Ambitious next steps for
the ISIC card will see a
virtual digital ISIC being
made available online
to students, offering
many more services
and tools to the student
and having their digital
ISIC accessible through
any internet device,
anywhere, any time.
See IT and online
initiatives on page 24.
1970sand 80s
1993 Late 2000s
2013 and beyond
10
Photograph by Bibiana Yeung, 60 Great ISIC Experiences Student Photo Competition entrant
ISIC Annual Report 2012 11
Governance
ISIC Association
The International Student Identity Card (ISIC)
Association consists of 51 members from
across the globe. These members are the
organisations that hold the exclusive license
to distribute, promote and develop the ISIC
card within their territory or country. Each
year ISIC Association members meet at the
ISIC Annual General Meeting (AGM), when
the ISIC Association Board and ISIC Global
Office report on achievements, developments,
strategy and finances.
A non-profit organisation, the ISIC Associa-
tion is governed by the rules set out in the
ISIC Association Constitution and Convention.
The Constitution details the rules and princi-
ples of the ISIC Association and aims to pro-
tect the rights of all members. The Convention
documents the agreed rules, practices and
use of the ISIC card. ISIC Association mem-
bers can vote on changes to the Constitution
and Convention and are eligible for election to
the ISIC Association Board.
ISIC Association Board
The ISIC Association Board is made up of 10
members, elected for a period of 2 years. The
ISIC Board is elected by the ISIC Association
members at the Annual General Meeting held
in May each year as part of the ISIC Event.
Board member terms are staggered, meaning
only 5 new Board members are elected each
year to help facilitate a steady and balanced
transition between Board member terms. The
Chair of the Board is elected annually by the
ISIC Board members.
The ISIC Association Board oversees the man-
agement of the ISIC card in a governance role
providing oversight and strategic direction
for the ISIC programme. Throughout 2012
the ISIC Board has proactively approved new
initiatives aimed at supporting the growth
and expansion of the ISIC card for students
internationally including the ‘ISIC Bootcamp’.
See ISIC Event and training on page 30.
Day-to-day central administration and opera-
tions are the responsibility of the ISIC Global
Office B.V., located in Amsterdam, the Neth-
erlands. The ISIC Global Office reports to the
ISIC Association Board 4 times each year.
ISIC Association Board 2012/13
Name Organisation Name Country
Matt East (Chair) GTS Alive Czech Republic
Adam Cooper STA Travel USA United States of America
Ana Maria Lecca INTEJ Peru
Lilian Leclercq Global Student Community France
Andrea Gorini CTS Italy
Richa Goyal STIC Travel Group India
Jose Carlos Hauer Santos Student Travel Bureau Brazil
Miroslaw Sikorski Almatur Poland
Ashraf Wali Egyptian Student Travel Services Egypt
Lucy Watson CFS-Services Canada
“Throughout 2012 the ISIC Board has proactively approved new initiatives aimed at supporting the growth and expansion
of the ISIC card for students internationally.”
12
Structure of the ISIC Association
LAs and PLAs are also ultimately respon-
sible for building and maintaining an at-
tractive and relevant portfolio of local,
regional and national benefits and dis-
counts available to all ISIC cardholders.
The network of LAs makes up the 51
ISIC Association members.
Since the strategic transitioning of the
ISIC card to an everyday student lifestyle
card in response to market changes wit-
nessed in the new millennium, an increas-
ing number of ISIC LAs and PLAs are
companies solely dedicated to the man-
agement and development of the card
leading to improved sales, brand recog-
nition and market penetration within
these markets.
Three tier system
(1) Licensed Authority (LA)
Licensed Authorities (LAs) lead the dis-
tribution, promotion and development
of the ISIC card within their country or
territory. LAs issue the ISIC card through
their own outlets, stores or online and
via agents and wholesale distribution
agreements with other organisations
such as universities and financial insti-
tutions. All of the current 51 ISIC LAs
are members of the ISIC Association.
(2) Provisional Licensed Authority (PLA)
Before achieving full Licensed Authority
status, new issuers must effectively meet
a number of fixed targets, commitments
and conditions during their first 3 years.
(3) Appointed Office (AO)
An Appointed Office (AO) is a distribu-
tion outlet for the ISIC card. AOs are
either selected by an LA or PLA to issue
the ISIC card within their country or
territory, or if a country does not have a
registered LA or PLA then the ISIC card
is distributed solely through AOs appoint-
ed directly by the ISIC Global Office.
The ISIC distribution network explained
The ISIC card is distributed in 127 countries through a broad network of Licensed Authorities (LAs), Provisional Licensed Authorities (PLAs) and Appointed Offices (AOs). LAs and PLAs have the exclusive license to distribute, promote and develop the ISIC card within their country or designated territory.
ISIC Association
ISIC Association Board
ISIC Global Office B.V.
Licensed Authorities Provisional Licensed Authorities Appointed Offices
Appointed OfficesAppointed Offices
ISIC Annual Report 2012 13
Table of ISIC Association members in 2012
Name Organisation Name Website
Australia STA Travel Australia www.isiccard.com.au
Austria STA Travel Austria www.isic.at
Brazil Student Travel Bureau www.carteiradoestudante.com.br
Bulgaria ASAS www.isic.bg
Canada Canadian Federation of Students-Services www.isiccanada.ca
Chile HI Chile www.isic.cl
Colombia Consorcio Isic Colombia www.isiccolombia.org
Costa Rica OTEC Viajes Costa Rica www.isic.cr
Czech Republic GTS Alive s.r.o. www.isic.cz
Denmark KILROY Denmark A/S www.isicnordic.org
Dominican Republic Oficina Dominicana para el Fomento del Turismo Educativo, Inc. www.odte.org
Ecuador Grupo IDIOMAS www.isicecuador.com
Egypt Egyptian Student Travel Services (ESTS) www.isicegypt.org
Estonia Federation of Estonian Student Unions www.isic.ee
Finland OY KILROY Finland AB www.isicnordic.org
France Global Student Community France www.isic.fr/isic-accueil/isic-au-luxembourg
Germany rds Reisedienst Deutscher Studentenschaften GmbH www.isic.de
Greece ROBISSA S.A. www.isic.gr
Hong Kong Hong Kong Student Travel Limited www.isic.hk
Hungary Diákigazolvány Kft. www.isic.hu
India STIC Travel Group www.isicweb.net
Israel ISSTA www.issta.co.il
Italy CTS www.isic.it
Japan NFUCA www.isic.jp/e/obtaining.html
Latvia ISIC.Lv www.isic.lv
Lithuania Zigzag Travel www.isic.lt
Luxembourg Global Student Community Luxembourg www.isic.fr
Macau Hong Kong Student Travel Limited www.isic.hk
Macedonia TA Aurora turs www.isicmacedonia.com
Malaysia MSL Travel Sdn Bhd www.msltravel.com
Malta National Student Travel Foundation www.nsts.org
Montenegro IUVIA www.isic.me
New Zealand STA Travel New Zealand www.isiccard.co.nz
Norway KILROY Norway AS www.isicnordic.org
Peru INTEJ www.isic.pe
Poland Almatur Association www.isic.pl
Portugal Tagus Viagens www.taguseasy.pt
Romania Association for the Support of Youth, Students and Teachers (ASYST) www.isic-romania.ro
Russia Sputnik-ISIC Ltd www.isic.ru
Serbia IUVIA NGO www.isic.rs
Singapore STA Travel Singapore www.isic.com.sg
Slovakia CKM SYTS www.isic.sk
South Korea KISES www.isic.co.kr
Sweden KILROY Sweden AB www.isicnordic.org
Switzerland STA Travel Schweiz AG www.isic.ch
Taiwan Kang Wen Culture & Education Foundation www.statravel.org.tw
Thailand STA Travel Co., Ltd. www.statravel.co.th
Ukraine LLC "I-UNION.UA" www.isic.org.ua
United Kingdom NUS https://cards.nusextra.co.uk/
United Kingdom STA Travel UK www.statravel.co.uk/discount-cards.htm
USA STA Travel, INC www.myisic.com
Venezuela IVI Venezuela www.carnetestudiante.com
14
Global distribution
ISIC distribution growth
Following the trend of previous years, millions
of students in 2012 were issued an ISIC card
with global card sales remaining steady in com-
parison to 2011. More than 5 million valid ISIC
cards were in the hands of students across
127 territories in 2012, bringing the total
number of ISIC cards issued since the card
was first created by students for students in
1953 to over 105 million.
Travel towards everyday use
In spite of the ever changing student land-
scape the core values of the ISIC card remain
the same, allowing the card to continue to be
relevant to students worldwide not only to-
day but for the future. The ISIC Association
maintains strategic efforts to ensure the val-
ue proposition of the ISIC card changes and
adapts as the needs of the modern day stu-
dent change. Although travel has been the
strongest pillar in the value proposition of
the ISIC card for decades, recent years have
shown the rapid development of additional
services and benefits that cater for everyday
student essentials as well as travel. This tran-
sition enables students with an ISIC card to
make the most of their student life both when
at home and around campus, and as they trav-
el and discover the world around them.
Adding to this, progress is anticipated in the
coming years from:
• increased independent management
of the ISIC card as a product in its
own right in more countries.
• the introduction and development
of the ISIC card in new territories.
• increase in the availability of ISIC
MasterCard student cards worldwide
See Global partnerships on page 23.
• virtualisation of a student’s ISIC
identity through the launch of the
ISIC Cloud See Online and IT
initiatives on page 24.
• stronger emphasis on engagement
with international institutions See
International recognition and endorse-
ments on page 27.
• increased focus on training and
knowledge sharing for ISIC issuers
See ISIC Event and training on page 30.
In 2012 the total number of valid cards totalled 5,149,633.
Photograph by Alex Massi, 60 Great ISIC Experiences Student Photo Competition entrant
A co-branded card is a unique card
which combines the ISIC card and a
partner organisation’s branding and
services in an effort to reach a com-
mon or shared target market. The re-
sult is a convenient card package that
allows the cardholder to access both
the partner’s product or service, and
the ISIC benefits and student identity
element all within a single card which
features dual branding. Current ISIC
co-brand partners include academ-
ic institutions, financial institutions
and banks, as well as commercial and
transportation companies.
What is an ISIC co-brand?
ISIC Annual Report 2012 15
Country Total 2012 Country Total 2012 Country Total 2012 Country Total 2012
Argentina 42,080 Estonia 64,232 Luxembourg 10,100 Slovenia 3,356
Armenia 3,955 Finland 9,249 Macedonia 1,981 South Africa 2,477
Australia 52,685 France 261,848 Malaysia 27,327 South Korea 97,646
Austria 87,080 Georgia 1,282 Malta 657 Spain 44,698
Azerbaijan 620 Germany 90,654 Mexico 20,195 Sri Lanka 2,128
Belgium 24,351 Greece 2,956 Moldova 4,373 Sweden 5,194
Bolivia 2,030 Guatemala 3,245 Montenegro 4,655 Switzerland 9,788
Bosnia-Herzegovina 6,070 Hong Kong 11,954 Nepal 583 Syria 3,362
Brazil 180,221 Hungary 16,451 Netherlands 942,340 Taiwan 121,958
Bulgaria 36,912 Iceland 297 New Zealand 4,860 Tanzania 1,212
Canada 43,506 India 20,594 Norway 9,592 Thailand 18,799
Chile 8,825 Indonesia 8,125 Pakistan 1,300 Turkey 10,530
China 33,098 Ireland 3,276 Panama 17,627 Uganda 242
Colombia 23,507 Israel 10,049 Peru 24,281 Ukraine 30,792
Costa Rica 31,096 Italy 19,328 Poland 62,600 United Kingdom 171,629
Croatia 1,609 Japan 32,697 Portugal 115,066 Uruguay 2,185
Czech Republic 251,464 Kazakhstan 4,828 Romania 55,279 USA 104,288
Denmark 13,494 Kenya 1,134 Russia 57,589 Venezuela 23,709
Dominican Republic 19,154 Latvia 65,015 Serbia 46,330
Ecuador 1,446 Lebanon 10,415 Singapore 4,672
Egypt 12,950 Lithuania 25,575 Slovakia 157,338
Breakdown of 2012 card sales figures (for Licensed Authority and Provisional Licensed Authority markets only)
16
The ISIC card has been introduced to a number of new markets in 2012 through Appointed Of-fice (AO) agreements in:
• Cameroon
• Fiji Islands
• Paraguay
• Southern Sudan
• Yemen
• Zimbabwe
Provisional Licensed Authorities (PLAs) were also established in the following new markets:
• Ghana• Kosovo • Uruguay
The following territories also saw the appoint-ment of a new organisation as the Provisional Licensed Authority in 2012:
• The Netherlands• Philippines• Vietnam
As at 31 December 2012, the ISIC card is dis-tributed in 127 territories across the globe:
• 51 territories with an established Licensed Authority
• 35 territories with a Provisional Licensed Authority
• 41 territories with Appointed Offices
As part of the ISIC Territory Development Strategy, it is the ISIC Association’s aim to increase the global reach by growing the ISIC distribution network worldwide in order to reach as many students as possible. Through-out 2013 and beyond the ISIC Global Office will look for new opportunities to introduce the ISIC card in more markets geographically in order to meet the underlining aim estab-
lished in 1953 to have the ISIC card “take the
necessary steps to ensure that an International
Student Identity Card be made available as
soon as possible in as large a part of the world
as possible”.
Top performing marketsISIC market performance is determined by the total card distribution within a calendar year against the existing student market size.
The top 3 performing markets for 2012 were:
(1) Slovakia(2) Estonia(3) Czech Republic
Territory development
ISIC’s Territory Development strategy, first introduced in 2008, places equal emphasis on the introduction of ISIC in new territories and strengthening the ISIC presence in existing markets with high growth potential.
ISIC Annual Report 2012 17
LAs for 2012
PLAs established and new for 2012
AOs established and new for 2012
Currently no ISIC presence
18
2012 local development highlights
2012 saw a number of new, diverse initiatives
put in place by local ISIC issuers, all contrib-
uting to the growth of the ISIC card, including
but not limited to:
• ISIC Argentina undertook their first ISIC
University Tour in the final quarter of 2012.
Over a short 6 week period ISIC Argentina
reached out to over 50,000 students to help
promote the ISIC card.
• ISIC Australia produced an innovative ani-
mated web commercial to use as part of their
promotion for the ISIC card. The unique ad-
vertisement, featured on the homepage of the
ISIC Australia website, details the benefits
and value of the ISIC card in a creative way.
• ISIC Brazil launched their dedicated ISIC
Facebook page ‘Minha ISIC’ in February 2012,
gaining an impressive 36,000 followers in only
the first three months of being up and running
through active outreach and promotions.
• ISIC Canada secured a significant discount
for ISIC cardholders with Porter Airlines, a
leading Canadian airline. Exclusively for ISIC
cardholders, the benefit offers real flexibility
for students as it is applicable for all flights
and fare classes.
• Czech Tourism, the official government-
funded organisation promoting Czech Repub-
lic tourism opportunities both internationally
and domestically, reached out to and estab-
lished a partnership with ISIC Czech Republic.
Czech Tourism is looking to target students
and youth and identified ISIC Czech Republic
as a key strategic partner to support them in
their outreach.
• In May 2012, ISIC Dominican Republic cele-
brated the 30th Anniversary of the ISIC card’s
arrival in the country in style. Special events
were held giving academic and commercial
partners alike the chance to learn about new
ventures and agreements contributing to the
increased value of the ISIC card in the Domin-
ican Republic.
• Together with university partner EMLYON
University, ISIC France created a new spon-
sorship opportunity ultimately enabling the
cost of an ISIC card to be reduced for students
of the French business school. The sponsor-
ship initiative allows 2 partners to have their
logos appear on the reverse of the EMLYON
University ISIC card and decreases the card
cost for its students.
• ISIC Peru was one of several ISIC territories
to launch a new local website dedicated to
promoting the ISIC card, benefits, news and
events at a local level.
• In July 2012, ISIC United States upgraded
the existing ISIC card to a joint ISIC MasterCard
prepaid card. All ISIC cards issued in the Unit-
ed States now have the added MasterCard
payment function capability. ISIC United States
is the first ISIC territory to transfer all cards
to a combined ISIC MasterCard student card.
• In 2012 a number of ISIC MasterCard student
card programmes were launched internation-
ally, providing the best of both worlds for stu-
dents. See Global partnerships on page 23.
Throughout 2012 tailored ISIC MasterCard
programmes were introduced in 10 additional
ISIC territories:
• Armenia
• Azerbaijan
• Brazil
• Kenya
• Montenegro
• Poland
• Russia
• Serbia
• Sri Lanka
• United States of America
The addition of these programmes brings the
total number of ISIC MasterCard programmes
available to students to 22.
Cumulative number of cards issued to students since 1953
YEAR
NO
. OF
CAR
DS
(MIL
LIO
N)
1953
1963
1973
100
80
60
40
20
0
10 million1977
20 million
ISIC Annual Report 2012 19
Number of valid cards each year since 1953
Number of territories issuing the ISIC card each year since 1953 19
53
1963
1973
1983
1993
2003
2012
6000000
5000000
4000000
3000000
2000000
1000000
0
YEAR
NO
. OF
CAR
DS
1953
1963
1973
1983
1993
2003
2012
150
120
90
60
30
0
YEAR
NO
. OF
TER
RIT
OR
IES
1983
1993
2003
2012
1968
20 million1983
50 million1997
100 million2011
501972
1001997
1201999
£66 €77.94 $100
L 1,966.40 ₮140,052.39
Top performing markets 2012
127 Number of overall
distribution countries
Number of combined, cobranded card*partners
*A unique ISIC card including a partner’s services and branding
51 35 41Number of endorsements
51 155+Number of ISIC Association members
1000+
Number of university partners ISIC is
engaged with globally
1,530+Proportion of
ISIC cards that are ISIC MasterCards
10%
8 ISIC cards issued every minute 12,500cards issued per day
5 million+ cards in the market in 2012
Over 106 million cards issued since 1953
British Pound Euro US Dollar
Honduran Lempira Mongolian Tughrik
5 million ISIC cards side by side equates to 430km / 267 milesThe closest satellite to Earth is approximately 320km / 200 miles away
Estimate saving for each ISIC cardholder per year
LicensedAuthorities
Provisional Licensed Authorities
Appointed Officies
60
30
20
50 10
40
CZECH REPUBLIC
3
ESTONIA
21
SLOVAKIA
The most viewed online benefit on ISIC.org is Hostelworld.com
Number of local ISIC websites
ISIC is in more countries than…
125,000+ benefit locations
42,000+ benefit providers
6,000+ point of sales
1,350+ ISIC staff globally
2.5 Paris Metro tickets (€1,70 each)Average saving
per benefit
€4.33 =
Number of Facebook fans (total combined number globally)
Unique visitors to ISIC.org each month
Starbucks (62) Macdonalds (122) ISIC (127)
> half a million and counting
85+ 140,000
0.11% of the average annual university tuition fee in Mexico (US$5,077 – Global Higher Education Ratings 2010)
2.4 Big Macs in Malaysia
=
=
Breakdown of combined card types
academic62%
financial14%
other32%
Some combined co-branded cards provide more than 2 services for students. They are then categorised as more than one type of card
www
22
Photograph by Diana Asmontaite, 60 Great ISIC Experiences Student Photo Competition entrant
ISIC Annual Report 2012 23
Global partnerships
MasterCard Worldwide
2012 continued to see the
successful expansion of the
ISIC MasterCard strategic
partnership. First introduced
in 2007, when ISIC was in the
early stages of the strategic transitioning of
the ISIC card towards an official student iden-
tity card for everyday use, the ISIC MasterCard
partnership has gone from strength to strength.
The alliance with MasterCard enables students
to have the option of a secure payment func-
tionality integrated as part of their ISIC card.
It is a natural partnership in order to contin-
uously improve the service level to students.
The programme allows banks across the globe
to merge a MasterCard payment card with the
ISIC card, providing their student customers
with a single card that combines preferential
access to benefits and discounts, official proof
of their student identity anywhere in the
world, and a safe and smart way to manage
their money.
In 2012 a new global agreement was signed,
renewing the partnership for another 5 years
and signalling MasterCard’s commitment
to the student segment. With programme
achievements evident in several ISIC territo-
ries worldwide, many ISIC issuers followed suit
in 2012 with ISIC MasterCard programmes
being launched in Armenia , Azerbaijan, Brazil,
Kenya, Montenegro, Poland, Russia, Serbia,
Sri Lanka and the United States. Currently,
approximately 10 percent of all ISIC cards in
the market feature a MasterCard payment
function. More countries are in the pipeline
for 2013, with India and Pakistan already in
advanced stages of preparing to launch their
cards to market.
In addition, several key initiatives in support
of the ISIC MasterCard programme globally
are in development for 2013 including an in-
teractive, practical toolkit for ISIC and Mas-
terCard local offices designed to support ne-
gotiations with banks around the introduction
of the ISIC MasterCard student card. Further
advances will also be seen with the launch of
a social media campaign, Get Exploring, aimed
at increasing awareness of the ISIC Master-
Card in Brazil, France and the United States.
Plus through the introduction of the new ISIC
app which has MasterCard functionality inte-
grated, students with an ISIC MasterCard will
be able to undertake simple mobile banking
tasks straight from their smartphone. See
Online and IT initiatives on page 24.
The truly international scope and extensive network of verified students make ISIC an attractive partner for any organisation looking to reach and support the global student community. Led by the ISIC Global Office, 2012 has seen impressive inroads being made with existing global partners and the introduc-tion of new global brands to the ISIC benefit portfolio.
Further partnership highlights
The ISIC Association continues to recognise
travel as an important component of student
life. In addition, throughout 2012 a number of
new global benefit partnerships were intro-
duced reflecting services that are relevant to
students irrespective of if they are at home or
travelling the world. In 2012 alone, new global
benefit partners included:
• WordsRU, a professional online
editing and proof reading service
• Kin Leaves, a leader in protective
vinyl solutions for personal
technology gadgets
• TravelSim, specialising in mobile
phone services for travellers
• Lonely Planet, the world’s most
successful travel publisher
• SANDEMANs NEW Europe, a
leading European tour provider
2012 also saw the expansion of the existing
The Economist student offer to the Asia-
Pacific region and the introduction of a new
Microsoft offer for students – Office University.
Supported by the attractive promotion by ISIC
issuers worldwide in 2012, the Microsoft offer
remains one of the most popular online ISIC
benefits for students.
“Throughout 2012 a number of new global
benefit partnerships were introduced reflecting
services that are relevant to students irrespective of if they are at home or
travelling the world.”
24
Online and IT initiatives
The need for intelligent information technology
(IT) solutions is made all the more important
by the international scope of the ISIC card. Ex-
isting IT solutions such as the ISIC benefits
database and the centralised ISIC cardholder
database are vital to the operations of ISIC
internationally and are now helping to make
the future of ISIC – the ISIC Cloud – a reality.
ISIC Cloud
The ISIC Cloud project was announced at the
2012 ISIC Event, representing the next gener-
ation of ISIC. The ISIC Cloud provides an addi-
tional digital carrier of a student’s ISIC iden-
tity next to the current plastic card. Making
the most of modern technology solutions, the
ISIC Cloud will be able to offer more services
to ISIC students, issuers and benefit partners.
Over the past year significant progress has
been made in the development of the ISIC
Cloud. Throughout 2012 4 key building blocks
central to the functionality of the Cloud have
been under development:
(1) Virtual ISIC Identity
Fundamental to the ISIC Cloud is the Virtual
ISIC Identity (Virtual ISIC). Ultimately this is
the virtual, online version of a student’s ISIC
card. Basically, information available on the
physical ISIC card will also be available through
a central database (the Cloud) and accessible
by the student online. Tailored ISIC IT solutions
easily allow students to prove their identity
and verify their student status online through
a simple, guided process. The Virtual ISIC will
first be made available on www.isic.org and
the ISIC app after which ISIC issuers will soon
be able to implement the feature on their
own local ISIC websites. Students will not be
limited to their physical card – straight from
an internet device students will be able to re-
deem a discount, prove their student status,
search for benefits and much more.
(2) ISIC app and website
Redeveloped versions on the existing ISIC app
and global website www.isic.org will enable
students to access their Virtual ISIC. As long
as they have an internet connection students
will be able to get access to their virtual iden-
tity through any device, anywhere and at any
time. When students are on the move they will
have access to the same features, functional-
ity and be able to prove their student status
Young people know bet-ter than anyone else how to make use of modern technology tools that are available to them. The ISIC Association has a responsibility to respond to the on-going develop-ments and demands of the next student generation.
Photograph by Maria Manchovka, 60 Great ISIC Experiences Student Photo Competition entrant
ISIC Annual Report 2012 25
wherever they go through the use of their per-
sonal ISIC app on a mobile device.
(3) Mobile marketing and commerce
To improve a student’s experience, a mobile
marketing and commerce platform is integrat-
ed as a part of the ISIC Cloud. ISIC issuers
worldwide are able to create targeted offers
through the Cloud using both push and pull
methods. Targeting is based on a combination
of the individual student’s Virtual ISIC settings
and location. The aim of this is to provide a
more personalised service offering individual
students information about ISIC benefits that
are relevant to their own interests, and at the
right time and place all through their mobile
device. For example, a student interested in
fashion would instantly receive notification of
any special ISIC offers from participating
clothing stores or be notified of the available
ISIC benefit with a fashion store whenever
they are in close proximity to a physical outlet.
(4) Partner functionality
Via the ISIC Cloud both local and global part-
ner organisations will be able to add function-
ality and services to upgrade and tailor the
student experience. MasterCard is the first
partner that will be adding services to the
ISIC Cloud, in the first instance enabling stu-
dents who have an ISIC MasterCard to be able
to check their balance or load funds to their
card through their ISIC app. Just like many mo-
bile banking apps available now, students will
be able to complete simple banking functions
all by logging in to their Virtual ISIC identity
through the ISIC app or website.
The ISIC Cloud represents a considerable and
exciting opportunity for the entire ISIC distri-
bution network and is a crucial step forward
for the ISIC Association to continue to engage
student customers through the technologies
that they use and have come to expect.
Components of the ISIC Cloud project are be-
ing piloted in Bulgaria, Czech Republic, Den-
mark, Finland, the Netherlands and Romania.
Based on learning’s and findings, the intention
is to expand the ISIC Cloud project interna-
tionally in time for the northern hemisphere
back to school period in September 2013.
Co-brand Manager
What is a co-brand? See Global distribu-
tion on page 14.
Historically, Licensed Authorities and Provi-
sional Licensed Authorities when entering in
to a joint card distribution agreement or co-
brand with a financial or academic institution
have been required to sign a tri-partite with
the ISIC Global Office. In an effort to reduce
the administration burden on ISIC issuers,
Co-brand Manager was introduced in 2012
effectively replacing the need for a tri-partite
agreement. Issuers now only need to upload
their partnership in the application which cre-
ates a record of the partnership. In addition to
decreasing the turnaround time for finalising
co-brand agreements, Co-brand Manager pro-
vides a clear overview of all co-brand partner-
ships around the world and contributes to the
sharing of knowledge between issuers.
Order Manager
Before an ISIC card reaches a student’s hand
there are several steps in the process. Physical
stock and assets are coordinated centrally by
the ISIC Global Office and ordered wholesale
by ISIC card issuers. With over 125 issuers
worldwide, the ability to track card orders was
made all the more easier with the development
of Order Manager in 2012. Order Manager is
an application which provides ISIC issuers
with the ability to order cards, unique ISIC se-
rial numbers, printing supplies and request
card designs through a guided online process.
Through the centralised ordering application,
placed orders can be processed and tracked in
real time by the ISIC issuer or the ISIC Global
Office, helping to standardise and make the
ordering process easier and more efficient.
“The ISIC Association has a responsibility to
respond to the on-going developments and
demands of the next student generation.”
Photograph (right) by Ruta Aleknaviciute, ISIC 60 Great ISIC Experiences Student Photo Competition entrant
26
Photograph by Mauricio Orantes, 60 Great ISIC Experiences Student Photo Competition entrant
ISIC Annual Report 2012 27
International recognition and endorsements
The growth of the ISIC card can in part be at-
tributed to the support and engagement with
such organisations as endorsements allow the
ISIC Association to explore new opportunities
for tangible cooperation and work together to
support students worldwide.
In 2012 a Memorandum of Understanding was
signed with AIESEC, the world’s largest stu-
dent run organisation, aimed at providing
access to opportunities and experiences for
students internationally. This global partner-
ship has spurred local level arrangements for
cooperation between ISIC and AIESEC chap-
ters with India, Indonesia and the United
States all developing individual agreements
and ISIC-AIESEC membership cards in 2012.
The ISIC Association was also appointed an
Affiliate Member of the International Associ-
ation of Universities (IAU) in 2012, providing
opportunities for collaboration with over 630
internationally recognised universities.
Encouraged by the United Nations World
Tourism Organization (UNWTO), the ISIC As-
sociation has submitted an application for
UNWTO Affiliate Membership, the outcome
of which will be determined in May 2013.
Affiliate Membership will add to the official
profile of the ISIC card and distinction in the
travel industry.
Throughout 2013 further engagement with
longstanding and valuable ISIC partner, the
United Nations Educational, Scientific and
Cultural Organization (UNESCO), will proac-
tively take place in order to revive concrete
initiatives in an effort to support mutual
objectives in area of youth and students.
UNESCO has officially endorsed the ISIC card
since 1968 and will be represented at the
2013 ISIC Event.
The ISIC card has a longstanding reputation as the unique internationally ac-cepted proof of bona fide student status. This is reflected in the significant number of endorsements the card has received from recognised institutions and governments internationally.
“In 2012 a Memorandum of Understanding was
signed with AIESEC, the world’s largest student run organisation, aimed
at providing access to opportunities
and experiences for students internationally.”
Photographs by Ny Phani Kumar (top right) and Eleni Mcllory (bottom right)60 Great ISIC Experiences Student Photo Competition entrants
28
ISIC outreach
Online presence
The ISIC network is forging an impressive pres-
ence across social media platforms. Increasing-
ly more and more local ISIC offices are using
Facebook, Twitter, YouTube and other social
media channels to showcase the benefits of
the ISIC card, post timely and relevant con-
tent, highlight special student offers and con-
nect students at both a local and global level.
On Facebook alone, ISIC fans total over half a
million and counting worldwide, marking a 75
percent increase compared to 2011 followers.
Likewise 2012 saw a number of dedicated lo-
cal ISIC websites being launched including in
Argentina, Armenia, Peru and Spain, providing
a platform to inform local students of the ben-
efits of ISIC. The introduction of these sites
brings the total number of local ISIC websites to
over 85, each catering to the needs of students
within the territory in their own language.
ISIC Award
Around the world many people aspire to par-
ticipate in higher education but not everyone
has the opportunity easily available to them.
The ISIC Association recognises that becom-
ing a student in many countries is a privilege
not obtainable by all. The ISIC Award was in-
troduced in 2011 to acknowledge and support
existing organisations and initiatives encour-
aging access to higher education on an inter-
national scale.
The ISIC Award is presented on behalf of all
ISIC Association members across the globe.
Award winners can be an institution, associ-
ation, non-government organisation or sim-
ilar organisation that clearly demonstrates a
commitment to reducing barriers and making
education more accessible. Recipients receive
not only recognition and profiling by the ISIC
Association, but also a €20,000 (US$26,500)
financial contribution to support the develop-
ment and continuation of the winning organ-
isation’s efforts to increase access to educa-
tion opportunities.
The International Association of Universities
(IAU) was announced the 2012 ISIC Award
winner as part of a special ceremony and re-
ception on the final day of the 2012 ISIC
Event. IAU was a standout winner for the
2012 ISIC Award particularly for their Equita-
ble Access and Success in Quality Higher Educa-
tion pilot project. This innovative project
looked to improve access to education for
marginalised students and countries at risk of
under representation in the tertiary education
system, allowing individuals to fulfil their po-
tential and change their own lives and commu-
nities for the better.
60th Anniversary celebrations
In recognition of the ISIC 60th Anniversary
in 2013, the ISIC Global Office is coordinating
a programme of activities and promotions
to maximise the opportunities presented by
this milestone.
As the core ISIC segment and creators of
the ISIC card in 1953, it is important that
students are given the opportunity to partici-
pate in the 60th Anniversary of the ISIC card.
To support student participation in the 60th
Anniversary, 2 global student competitions
were launched in December 2012, with prom-
ising participation rates. Supported by STA
Travel and Lonely Planet, one competition
asks students to submit a photo capturing
their student life and the other asks students
to enter their ideas for the future of ISIC.
A further 60th Anniversary student campaign
is planned for the second half of 2013, as
well as the publication of the results of an
international student market research project
and a documentary detailing the ISIC card’s
unique history.
International Association of Universities2012 ISIC Award winner
ISIC Argentina website
ISIC Annual Report 2012 29
Photograph by Sonja Prijic, 60 Great ISIC Experiences Student Photo Competition entrant
“On Facebook alone, ISIC fans total over half a million and counting worldwide, marking a 75 percent increase compared to 2011
followers.”
30
2013 ISIC Event programme is best adapted
to meet the needs of ISIC issuers and part-
ners. Early registration numbers demonstrate
strong participation rates, with a modest in-
crease on the 2012 delegate numbers and
global and strategic partner representation.
Introduction of the ISIC Bootcamp
The ISIC Association Board has pinpointed ISIC
issuer training as fundamental to the growth
and development of the ISIC card internation-
ally. In 2012 the ISIC Bootcamp concept was
born in order to help address this need and
foster best practice amongst issuers.
Held at the ISIC Global Office in Amsterdam,
the ISIC Bootcamp sees 2 highly experienced
ISIC local managers train and share their ex-
periences with up to 8 recently appointed
local ISIC managers in the all-important areas
of ISIC card distribution and development.
Whereas the ISIC Event covers a multitude of
areas and initiatives, the ISIC Bootcamp is
designed to go far more in-depth into the day
to day challenges and demands faced by an
ISIC issuer. ISIC Bootcamps are limited to an
intensive two day period and a select number
of participants, providing a more conducive
environment for active engagement and in-
depth discussions.
ISIC Event and training
2012 ISIC Event
The 2012 ISIC Event took place between 21
– 23 May 2012 in Miami, United States and
proved for the second year running to be a
significantly valuable event for the entire ISIC
distribution network.
Introduced in 2011, the ISIC Event is a unique
and dynamic annual event for key organisa-
tions engaged with the international student
community and the ISIC card. The ISIC Event
provides a platform for local ISIC issuers,
global partners, endorsement partners and
student organisations to collaborate and be
inspired, resulting in greater innovation, and
improved benefits and engagement in the
world of ISIC, where students are at the core.
2012 participation numbers marked more
than a 30 percent increase on the participa-
tion numbers of the inaugural ISIC Event in
2011. More than 120 local ISIC issuers rep-
resenting 85 countries and 22 global benefit
and strategic partners participated in the
2012 ISIC Event.
New sessions were introduced in 2012 pro-
viding greater opportunities for participants
to learn, share and grow. These included a
Partner Trade Market and the ‘15 Minutes of
Fame’, which saw selected ISIC issuers show-
case a successful business case from their
ISIC territory in an engaging news interview
style format. A diverse range of speakers and
presenters took part in the 2012 programme,
offering many different perspectives on the
student market internationally. Presenters in-
cluded: AIESEC, the United Nations Alliance
of Civilizations, MasterCard Worldwide and
the World Savings Banks Institute.
The highlight of the final day of the 2012 ISIC
Event was the announcement of the 2012
ISIC Award winner. The International Associ-
ation of Universities (IAU) was honoured to
be recognised as the 2012 ISIC Award winner
for their work to improve access to education.
See ISIC outreach on page 28.
2013 ISIC Event
In recognition of the birthplace of the ISIC
card in 1953, the 2013 ISIC Event will be
held in Copenhagen, Denmark. The 2013 ISIC
Event, inclusive of the 60th Anniversary cele-
brations, is guaranteed to be a noteworthy
occasion. Feedback received from participants
of the previous ISIC Event will ensure the
Participants of the first ISIC Bootcamp, February 2013
ISIC Annual Report 2012 31
“In recognition of the birthplace of
the ISIC card in 1953, the 2013 ISIC Event will be held in Copenhagen,
Denmark.”
32
Financial activities
Due to the establishment of an independent management company wholly owned by ISIC Association, the 2012 Annual Report shares the consolidated result of ISIC Association and ISIC Global Office as ISIC Group.
As at 31 December 2012 the ISIC Group shows
a healthy financial position, with reserves to-
talling €2,422K. The majority of this, €2,284K,
is held in ISIC Association reserves, with the
remainder, €138K, held in reserves by the ISIC
Global Office.
As a non-profit organisation, surpluses made
through ISIC card operations are included in
the reserves of the ISIC Association or invest-
ed back into projects related to the develop-
ment of the ISIC programme internationally. In
addition to the ISIC Association’s non-profit
objectives, changes to the ISIC pricing model
that came in to effect on 1 January 2012 have
seen a dramatic reduction in the fees charged
to ISIC card issuers internationally.
Introduction of new pricing model
ISIC Association revenue is generated from
an annual license fee charged to issuers on
each card. Revenue made from the license
fee is reinvested in to the ISIC Association to
improve ISIC operations and services to stu-
dents. A new pricing model was introduced as
of 1 January 2012, amounting to a 20 percent
decrease in the card license fee for issuers
across the board in comparison to 2011 fees,
allowing local issuing organisations to allocate
more funds to student projects, initiatives and
ISIC development at a local level.
The new pricing model provides a fairer, trans-
parent approach. It is based on a set of 12
different ISIC license fees; each one linked to
a predefined range of per capita ‘purchasing
power parity’ levels in a territory as defined
by the International Monetary Fund (IMF), ac-
knowledging the different income levels and
their purchasing power in the many different
territories where the ISIC is issued. In addi-
tion, the new model with pre-determined fee
levels also allows for increased efficiency and
consistency at a global level.
In 2013 the pricing structure will be further
reduced by an additional 15 percent as part
of continuous efforts to make the card more
affordable and improve the ISIC card’s glob-
al reach to students, as well as reducing the
financial impact on issuers during demanding
economic times.
Audited accounts
At the time of print, the 2012 figures have
been mutually confirmed by ISIC Management
and the independent auditors and are pending
final signature.
The Annual Budget is prepared by the
ISIC Global Office, overseen by the
ISIC Board. Ultimately the budget for
the upcoming financial year, which
follows the calendar year, is approved
by the ISIC Association members at
their Annual General Meeting in May.
Photograph by Emile Zabarauskaite, ISIC 60 Great ISIC Experiences Student Photo Competition entrant
ISIC Annual Report 2012 33
ISIC Group1 Eliminations2 ISIC Association IGO
Amounts in Euros (EURO)
2012 2012 2012 2012
1 Revenue 2,450,828 0 0 2,450,828
2 Other operating income 179,068 (100,000) 279,068 0
3 Operational costs (324,181) 0 0 (324,181)
4 Other external expenses (878,936) 0 (78,981) (799,955)
5 Gross Profit/(Loss) 1,426,779 (100,000) 200,087 1,326,692
6 Staff expenses (922,506) 0 0 (922,506)
7 Depreciation (92,746) 0 0 (92,746)
8 Other operating expenses 0 100,000 0 (100,000)
9 Profit/(Loss) before financial items 411,527 0 200,087 211,440
10 Financial income 33,697 (15,045) 36,203 12,539
11 Financial expenses (36,712) 15,045 (714) (51,043)
12 Profit/(Loss) before tax 408,512 0 235,576 172,936
13 Tax on profit for the year (34,588) 0 0 (34,588)
14 Profit/(Loss)for the year 373,924 0 235,576 138,348
Income Statement for the financial year 1 January - 31 December 2012
ISIC Group1 Eliminations2 ISIC Association IGO
Amounts in Euros (EURO)
2012 2012 2012 2012
Assets
1 Intangible assets 244,021 0 0 244,021
2 Property, plant and equipment 15,105 0 0 15,105
3 Investments in subsidiaries 0 (18,200) 18,200 0
4 Fixed Assets 259,126 (18,200) 18,200 259,126
5 Inventories 181,407 0 0 181,407
6 Receivables 1,313,480 (1,204,609) 1,380,479 1,137,610
7 Cash at bank and in hand 1,529,337 0 891,719 637,618
8 Current Assets 3,024,224 (1,204,609) 2,272,198 1,956,635
9 Assets 3,283,350 (1,222,809) 2,290,398 2,215,761
Liabilities and Equity
10 Share capital 0 (18,200) 0 18,200
11 Retained Earnings 2,422,094 0 2,283,746 138,348
12 Equity 2,422,094 (18,200) 2,283,746 156,548
13 Short term liabilities 861,256 (1,204,609) 6,652 2,059,213
14 Total liabilities 861,256 (1,204,609) 6,652 2,059,213
15 Liabilities and Equity 3,283,350 (1,222,809) 2,290,398 2,215,761
Balance Sheet - Year ended 31 December 2012
1ISIC Group represents the consolidated figures of ISIC Association and its wholly owned Management subsidiary, ISIC Global Office (IGO) B.V.2In order to correctly show the Group result for statutory reporting purposes and as required legally for the audit, entries between ISIC Association and IGO B.V. are “eliminated.” Elimination is the term used to process consolidation entries. Lines 2 and 8 of the Income Statement show the elimination of the 100K gift from IGO to ISIC Association. Lines 10 and 11 show the elimination of the 15K interest accrued on loans given by the ISIC Association to IGO. The net effect of the elimination entries in the Income Statement is always zero. Lines 3 and 10 in the Balance Sheet show the elimination of the investment of ISIC Association in IGO against the share capital of IGO. Lines 6 and 13 show the elimination of the 1,205K intergroup balance between ISIC Association and IGO.
34
Photograph by Dominique Tynan, ISIC 60 Great ISIC Experiences Student Photo Competition entrant
International Student Identity Card
You are a student
2012 ISIC Association Annual Report | www.isic.org