Over the past 20 years, international student mobility has experienced a three-fold increase, as planned and emerging education hubs have attracted increasing numbers of students. The appeal of alternative destinations is strengthened by their cultural, linguistic, and geographic proximity, as well as a growing number of internationally ranked universities. This article quantifies shifts in international student mobility and world university rankings over a consequential 20-year period (1999/2000–2018/2019) at the beginning of the twenty-first century. It examines shifts in the number of county-to-country connections (density), relative country importance in the network (centrality), and network structure (multipolarity). The results indicate the overall network density steadily increased year-to-year, with a three-fold increase in the number of country-to-country connections, as influence was more widely and evenly distributed among a larger number of core countries within the network. As the number of universities in planned and emerging destinations listed in the rankings doubled, the network structure indicated a movement toward multipolarity, where a more diverse set of countries exerted greater relative influence in the overall network. The results suggest that while core-periphery dynamics in international student mobility persist, they also have begun to shift, as a larger and more diverse subset of planned and emerging educational hubs in Asia, South America, Africa, and the Middle East exert increasing influence in the overall network.