Book excerpt: Since the late 1990s, several governments worldwide have launched initiatives to transform their countries into education hubs in order to attract large numbers of foreign students, scholars, education providers, research institutes, and multinational companies. While many observers consider these initiatives as entrepreneurial projects typical of cross-border education, a proper analysis demands a closer examination of the multiple realities of education hub development and their implementation challenges. This thesis investigates the development of Malaysia, Singapore, and Hong Kong as education hubs. The research examines national initiatives as well as those that are specific to an economic zone (EduCity Iskandar) and a discipline (Islamic finance education hub). What are the rationales driving the development of theses education hubs? What patterns of engagement are evident as these societies forge regional and international ties through higher education? Through policy document analysis and interviews with 36 policymakers and 42 context informants, this study has identified four key rationales: 1) economic benefits, 2) talent development, 3) educational capacity, and 4) soft power. Each rationale generates specific policy objectives and implementation strategies. While Malaysia is keen to generate revenue through student fees and improve its quality of education by injecting competition, Singapore is eager to commercialize research innovations and develop talent in all forms (local, foreign, and diaspora). In contrast, Hong Kong remains skeptical of the economic benefits of an education industry and instead emphasizes talent development while cultivating local institutions. All three societies also aim to exert influence regionally and internationally though ties based on cultural heritage or networks with leading experts (i.e., soft power). These efforts meld a realist approach to international relations with neoliberalism and social constructivism. Nevertheless, serious contextual factors such as the prevailing political climate, deepening ethnic divisions, and the lack of academic freedom present challenges to the development of education hubs.