India has emerged as the least expensive foreign destination for university undergraduate students among 15 countries in a global survey conducted by banking giant HSBC.
The survey titled ‘The Value of Education: Springboard for success’ has found that at $42,093 per annum, Australia is the most expensive destination for foreign education globally, followed by Singapore at $39,229 and USA at $36,564.
In India, the average cost, including university fees and the cost of living, of an undergraduate foreign student is $5,642. Out of this amount, $581 constitutes university fees.
However, only 5 per cent of the total respondents put India in their top three preferred destinations.
According to the survey, Indian parents believe that USA provides the best education. USA was followed by UK (54 per cent)and Australia (47 per cent) in terms of the quality of education.
The report, which surveyed over 4,500 parents in 15 countries and territories, examines parents’ attitudes and behaviour towards children’s education around the world.