This article discusses the concept and the rationales for the internationalisation of higher education. In particular, the impacts of globalisation and the knowledge economy upon the internationalisation of higher education are examined. The study suggests that the internationalisation of higher education is becoming increasingly dominated by economic imperatives that focus on exporting education and generating income from overseas students. What is currently overlooked is that "internationalisation" is occurring not only beyond but also within national borders. A practice model is proposed for helping higher education institutions analyse the internationalisation of higher education from four rationales to develop more inclusive internationalisation policies and strategies. (Contains 1 table.)