Germany has overtaken Canada as the premiere study-abroad destination. Canada is not even on the number two spot, as per edtech major upGrad’s annual Study Abroad Trends Report.
Contrary to expectations, EU countries (48.8%) have been witnessing wider demand followed by the USA (27.6%) and the UK (9.5%). As per the report, within the EU, destinations like Germany (32.6%), Ireland (3.9%), France (3.3%), and other European nations (9%) are gaining popularity amongst Indian students in 2024.
Though the demand for the UK has fallen by 11.34%, it’s still better than that of Canada, as only 9.5% of the aspirants upGrad Abroad arm surveyed chose it as the preferred spot for studying internationally.
Why are Canada and the UK losing their charm?
Canada, which was a top choice per the survey published in May 2023, now sees a considerable decline in popularity due to factors ranging from increasing cost of living, unfriendly policies for international students, and the ongoing Canada-India conflict.
Meanwhile, the UK’s withdrawal of the dependent visa policy and long waits for the US visa have also played a role in students' looking at alternate options.
How did Germany become the top choice?
Germany has become a top alternative along with destinations like Ireland, France, and other European nations.
The report claims that the search for affordable and high-quality education has made Europe a leading first choice for more and more Indian students, reflecting a desire for affordable degrees, diverse cultural experiences, top-class learning environments, and more inclusive immigration policies.
The aspirational middle class
Students surveyed by upGrad have displayed increased acumen in budgeting and financing by opting for blended degrees, researching scholarships, making choices based on part-time work opportunities available in host countries, and looking for cost-effective destinations.
A clear preference for mid-range budgets is evident, indicating cost-consciousness while still valuing high-quality education experiences abroad.
Most respondents (41.1%) fall within the budget range of ₹16-25 lakh, suggesting that many aspirants are prepared to allocate a moderate budget for their studies abroad. The second-largest group (40.4%) is those with a ₹26-50 lakh budget range.
On the other hand, 5.1% of respondents were willing to spend over ₹50 lakh, which indicates a market for premium or highly specialised programmes abroad.
The report also highlights that around 66.5% of the respondents preferred to seek education loans to meet the study abroad budget requirements, while the remaining 33.5% said they had access to self-funding
Suitable education background and work profile
According to upGrad, the majority of study abroad aspirants have an engineering background, followed by commerce degree holders. Among the respondents, the majority were BTech graduates (44%), followed by BCom graduates (19%), BSc graduates (15%), and BA graduates (10%)
In terms of work experience, 44% of respondents reported as fresh graduates, 23% with 0-2 years of experience, 19% with 2-6 years of experience, and 14% with more than 6 years of work experience.
Interestingly, state board students led in study-abroad aspirations with an overwhelming 56%, with only 32% from CBSE and the remainder 12% from ISC or IB.
Also Read: 7 in 10 women techies feel gender diversity in workplace is only a marketing tool, finds survey
‘Better jobs’ were the primary motivation to study abroad followed by ‘quality education’ and ‘permanent residency.’ Nearly 45.7% of respondents hold the view that studying abroad enhances their employability, exposes them to global job markets, and provides opportunities for professional growth and development.
upGrad surveyed over 25,000 aspirants across Tier 1/Metros (42.8%), Tier 2 and Tier 3 (57.2%) cities for this report.
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