This article explores the possible development of internationalization of higher education in Organisation for Economic Co-operation and Development (OECD) countries, analyzing how the main driving forces may influence the internationalization process, globalization and the changing role of nation-states, regional and international bodies, and multilateral frameworks and agreements. The analysis is carried out based on four future scenarios for higher education developed by the OECD. Implications of various scenarios are analyzed in terms of their broader meaning for the main functions of higher education and issues of access, quality, and equity. Consequently, the implications for internationalization are derived. A special focus is placed on the consequences of the various scenarios for cooperation and competition as major strategic categories in the internationalization process. Finally, some further questions are raised with respect to the internationalization mission of higher education institutions in a globalized world and how the concept of internationalization may evolve. (Contains 1 figure and 1 note.)