upGrad, an integrated learning, skilling and workforce company, has introduced its latest annual Study Abroad Trends Report 3.0. This report delves into the evolving landscape of international education preferences in India, offering comprehensive insights. Based on data collected from more than 25,000 aspiring students across various city tiers, including Tier 1/Metros (42.8%) and Tier 2/Tier 3 (57.2%), the report under the upGrad Abroad division presents detailed observations that are shaping the mainstream narrative in India. Notably, Canada has experienced a notable decline in popularity, with only 9.3% of respondents considering it as a preferred destination, according to an official release.
Contrary to expectations, there is a growing demand for European Union (EU) countries (48.8%), followed by the USA (27.6%) and the UK (9.5%). The decline in demand for the UK by 11.34% since the last survey could be attributed to changes in visa policies. Within the EU, countries like Germany (32.6%), Ireland (3.9%), France (3.3%), and others (9%) are gaining traction among Indian students in 2024, surpassing Canada. This shift reflects the evolving preferences of Indian students, who now see Europe as offering affordable, high-quality education and valuable industrial opportunities, the release mentioned.
Key findings from the report include:
– The majority of study abroad aspirants come from engineering backgrounds, followed by commerce degree holders. Among respondents, the majority were BTech graduates (44%), followed by BCom (19%), BSc (15%), and BA (10%) graduates.
– In terms of work experience, 44% of respondents were fresh graduates, 23% had 0-2 years of experience, 19% had 2-6 years of experience, and 14% had more than 6 years of experience.
– State board students constituted the largest group of study abroad aspirants, comprising 56% of respondents, while 32% were from CBSE
– The primary motivator for studying abroad is to secure better job opportunities, followed by the pursuit of quality education and permanent residency. Approximately 45.7% of respondents believe that studying abroad enhances their employability and exposes them to global job markets.
– Management degrees are the most sought-after programs, selected by 55.6% of respondents, indicating a desire to enhance leadership skills and aspire for executive roles. Additionally, 28.7% express interest in Computer Science and IT programs, reflecting the increasing demand for advanced technology
– 41.1% of aspirants come from middle-class families with an overseas education budget ranging from 16 to 25 lakhs, contributing to the popularity of affordable destinations and blended learning. The second-largest group, comprising 40.4% of respondents, has a budget between 26-50 lakhs.
– 66.5% of respondents prefer to finance their study abroad endeavours through education loans, while the remaining 33.5% have access to self-funding.
“From being a metro product to becoming a mass phenomenon, the demand for overseas education is witnessing wider acceptance in India