This paper investigates the pull factors that influence the dynamics of first-year undergraduates at university. The focus is devoted to the role of internal supply factors (e.g. course quantity and quality, fees) and external factors related to the structural characteristics of the hosting location. Three main research questions are assessed. (RQ1) Are diversification and divergence of teaching programmes good strategies to increase demand? Do these eff�ects change with (RQ2) the internal characteristics of universities (i.e. size and quality of research) and/or (RQ3) the external characteristics of universities (i.e. geographical location, type of city, proximity of another university)? The empirical analysis employs Italian data over 2013-2019. Based on a panel data approach, the findings reveal a tendency to converge towards the typical national specialisation. Yet diversification, especially for small-sized universities, positively drives demand. Besides, interesting diff�erences are found at a geographical level. Based on the empirical findings, policy implications are drawn.