The world is marked by the twin processes of economic and cultural globalization in an era of information technology. The identities of all societies are evolving as social and political boundaries are shrinking day-by-day. As a result of significant economic and political changes, cross-cultural contact is at an all-time high in human history. Over the past three decades, however, significant social, political and technological changes appear to have seriously revamped policies, set new paradigms, and shifted philosophies that contribute to the dramatic alteration of the educational landscape. This globalized world is controlled by a triple deity--money, markets, and media--that have seamlessly entrenched themselves in how "education is imparted" around the globe. This infiltration has affected practices, practitioners, and programs. This paper presents the changing landscape of higher education in the global market, in terms of opportunities and threats to higher education institutes and universities around the world.