As much as 57 percent of the Indian middle class (household income of Rs 3-10 lakh) population are inclined to study abroad, according to the Leap-IpsosStrategy3 Study Abroad Outlook Report.
According to the survey, 83 percent of the respondents believed a foreign degree would give them an edge over peer competition, while 62 percent of them showcased rising trust in opting for education loans.
The report was unveiled at the Leap Global Edu Forum 2022 in Delhi on Tuesday, September 27, by the chief guest of the summit Dr Diya Dutt, Deputy Director, United States-India Educational Foundation (USIEF).
The report also gives an insight into how international education has been becoming popular with the middle-class segment of the Indian population. 'Better salaries' was among the top three factors for a majority of the respondents.
"Fuelled by the student community's growing aspirations, the Indian overseas education market is expected to grow multi-fold and will see over two million Indian students fly out by 2025 spending over $100 billion on their international education. This is a huge opportunity and the sector will see a meteoric rise in demand for innovative products and services," said Vaibhav Singh, the Co-Founder of Leap.
Also read: Indians comprise 20% of all international students in the United States: US Charg d'Affaires
Deepak H, a partner at Ipsos Strategy3, said the study explores every aspect, from inception to admission for aspirants.
"And one thing is absolutely clear, everything needs to sit at one place to ease it for the aspirants as we are likely to see a quantum jump in those opting for overseas courses. Interestingly, there is a new emerging cohort, of those choosing the hybrid format — online classes at home and offline in the campus — and it also is easy on the pocket,” he said.
