Germany has surpassed Canada as the leading destination for studying abroad, according to the annual Study Abroad Trends Report by edtech major upGrad. In a surprising turn of events, EU countries, particularly Germany, have experienced a surge in demand, accounting for 48.8% of the total, followed by the USA at 27.6% and the UK at 9.5%. Specifically, Germany has emerged as the top choice within the EU, capturing 32.6% of the preferences, with Ireland (3.9%), France (3.3%), and other European nations (9%) also gaining traction among Indian students in 2024.
The shift in preferences away from Canada and the UK can be attributed to various factors such as the rising cost of living, unwelcoming policies towards international students, and other undisclosed reasons. Despite a decline in demand for the UK by 11.34%, it still outperforms Canada, which only attracted 9.5% of aspiring students surveyed by upGrad Abroad.
The rise of Germany as a favored destination can be linked to the pursuit of affordable yet high-quality education in Europe. Indian students are increasingly drawn to the continent for its diverse cultural experiences, excellent learning environments, and more inclusive immigration regulations. This trend underscores a growing preference for cost-effective education options that do not compromise on quality.
The study also reveals a growing trend among aspirants towards prudent financial planning, including opting for blended degree programs, exploring scholarship opportunities, considering part-time work prospects in host countries, and selecting budget-friendly study destinations. The majority of respondents (41.1%) demonstrate a willingness to allocate ₹16-25 lakh for their studies abroad, indicating a balanced approach towards expenses. Additionally, 66.5% of participants express a preference for education loans to fund their international studies, while the remaining 33.5% rely on self-funding.
In terms of educational background, engineering graduates constitute the largest group of study abroad aspirants, followed by commerce degree holders. Among the respondents, BTech graduates (44%) outnumber other degree holders, with BCom (19%), BSc (15%), and BA (10%) graduates following suit. Regarding work experience, fresh graduates account for 44% of the respondents, while 23% have 0-2 years of experience, 19% have 2-6 years of experience, and 14% possess over 6 years of work experience.
Interestingly, students from state boards exhibit the highest interest in studying abroad, comprising 56% of the respondents, compared to 32% from CBSE and 12% from ISC or IB boards. The primary motivations cited for pursuing international education include better job prospects, access to quality education, and opportunities for permanent residency. Nearly half of the respondents (45.7%) believe that studying abroad enhances their employability, exposes them to global job markets, and fosters professional growth and development.
upGrad’s comprehensive survey, encompassing over 25,000 aspirants from Tier 1/Metros (42.8%) and Tier 2/Tier 3 (57.2%) cities, sheds light on the evolving preferences and trends among Indian students aspiring to pursue higher education overseas.