Indian parents’ wish to make their children study abroad has shown a jump of around 15 per cent, a report of HSBC claims.
HSBC’s report – Value of Education, Higher and Higher revealed that the number of Indian parents wanting their children to study abroad has jumped from 47% in 2016 to 62% in 2017.
After the United Arab Emirates (UAE), India ranked second in the list of 15 countries where parents were surveyed. The 15 countries include: India, China, Australia, Canada, Egypt, France, Hong Kong, Indonesia, Malaysia, Mexico, Singapore, Taiwan, United Arab Emirates, United Kingdom and United States.
The US, Australia and UK, are the top three foreign destinations where Indian parents want their children to study. Parents in China also prefer the destinations in the same order.
Over 8,000 parents have participated in the study of which 42 per cent would consider their wards to study abroad, compared to 35% in 2016. 82% Indian parents would even consider an online university degree for their children.
The trend has seen a big percentage-point (pp) increase from the last year among the parents of Asian countries: India (62%, +15pp), Indonesia (61% +1pp), China (59%, +15pp), Malaysia (51%, +8pp), and Singapore (47%, +4pp).
Around half of these parents (47%) would consider their child to study in the universities of the US, making it the most popular choice overall. The US is the most favoured destination for parents in Taiwan (70%) followed by China (61%) and Canada (61%).
The second most popular choice is Australia (40%) and is the most favoured country for parents in Malaysia (67%), Indonesia (65%) and Singapore (63%).
Third most favoured destination (39%) is UK and is the top destination for parents in Hong Kong (67%), France (52%) and the UAE (48%).