In the modern globalized economy, university graduates are competing in domestic labor markets and the global marketplace, facing intense competition in what has been dubbed ‘The Global Auction’. As a result, the concept of Global Citizenship has become increasingly important. This chapter aims to review the evolving concept of internationalization in higher education and its connections with the global labor market. The study involves an in-depth literature review and critically examines various research connected to related aspects. The study employed an analysis of the context and status of international students’ employability in both the host and home labor markets. The host labor market refers to the job market in the country where the students are studying, while the home labor market refers to the job market in the student’s country of origin. The chapter also proposes key recommendations on university internationalization strategies to support graduate employability and offers pointers for future research.