Germany has surpassed Canada as the preferred study abroad destination among Indian students, shows a report by an online higher education company. Canada is witnessing a considerable decline in popularity with only 9.3% of total respondents choosing it as a dream destination, the report shows.
Contrary to expectations, EU countries (48.8%) have been witnessing wider demand followed by the USA (27.6%) and the UK (9.5%). Demand for the UK has fallen by 11.34% since the previous survey which could be attributed to the UK’s withdrawal of the dependent visa policy.
Change in the preferences
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, surpassing Canada. This shift also highlights a change in the preferences of the ever-growing aspirations of Indian students, who are now looking at Europe as an affordable and high-quality education destination which leverages its lucrative industrial prowess.
With insights captured and analysed from over 25,000 aspirants across tier-I/ metros (42.8%), tier-II and tier-III (57.2%) cities, the report outlines exhaustive and interesting observations that are becoming mainstream in India.
Key findings
The majority of study abroad aspirants have an Engineering background, followed by Commerce degree holders. Among our 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. State Board students led in study abroad aspiration with an overwhelming 56% of respondents from state boards, while only 32% were from CBSE and the remaining 12% were from ISC or IB.
Better jobs emerged as the top motivator 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.
Most sought-after programmes
Management degrees are the most sought-after programmes, picked by 55.6% of respondents as learners aim to bolster their leadership capabilities and aim for the C-suite. Over 28.7% express interest in Computer Science and IT reflecting a surge in demand for cutting-edge technology. Traditional Engineering and Medical Science degrees followed.
Over 41.1% of the aspirants reported to be from middle-class families with an overseas education budget ranging from 16 to 25 lakhs. This has also added to the popularity of affordable destinations and blended learning. The second-largest group of 40.4% were those with a budget between 26-50 lakh. At least 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.
Commenting on the recent report and while also indicating the market sentiments, Ankur Nyati, president of UpGrad’s Study Abroad segment, said, “From being a metro product to becoming a mass phenomenon, the demand for overseas education is witnessing wider acceptance in India. Fuelled by economic proliferation and unprecedented blended learning models, this is an opportune time for our nation to become the largest talent economy and mobilise a hyper-skilled workforce for the global jobs of tomorrow. This report is certainly a reflection of India’s progress and adaptability.”