According to the latest report by HSBC in The Value of Education, international higher education is going strong.
The report covers a study of over 8,000 parents in 15 countries, with 42% of parents revealing that they would consider sending their child to study abroad, an increase of 7 per cent, compared to 35% of parents in 2016.
Parents in Asian countries are among the most “outward looking” reveals the report, with four of the top five countries where parents are considering a university education abroad their child being India (62%, +15pp), Indonesia (61%, +1pp), China (59%, +15pp), and Hong Kong (52%, -2pp).
The report reveals similar figures to those indicated by OECD that highlights Asian students as accounting for 53% of all students studying abroad worldwide.
A total of 4.6 million higher education students are studying abroad in 2017, a significant increase from 2.1 million in 2001.
The USA attracted around 1,079,000 international higher education students, the UK around 501,000, China 443,000, Australia 328,000 and France 324,000.
Top Reasons to Study Abroad
According to the report the main benefits of a higher education abroad is for the child to gain international work experience (49%), develop foreign language skills (49%) and to be exposed to new experiences, ideas and cultures (48%).
Top Study Abroad Destinations
According to the report the worldwide top destinations to study abroad are the USA, Australia, UK and Canada.
The USA (47%) is the most favored destination by parents, ahead of Australia (40%), the UK (39%), Canada (25%) and Germany (23%). Parents who preferred the USA believe it is a good destination for job prospects for graduates (86%), while those choosing the UK perceive it as offering high quality universities and colleges (94%) and parents picking Canada think it offers a high quality of life for students (83%).
Rajika Bhandari, Head of Research, at the Institute of International Education, Inc. says “The fact that these five nations are the most preferred is not a happy accident; all take very deliberate steps to attract more international students. Germany, for example, aims to attract 350,000 international students by 2020. Canada, too, has implemented policies to make it easier for international students to join the skilled workforce, and has taken steps toward offering a path to citizenship for highly educated, skillbased immigrants that come through its university system.”
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