According to a report by an online higher education company, Germany has now overtaken Canada as the preferred study abroad destination for Indian students. The report indicates a significant decline in Canada’s popularity, with only 9.3% of respondents selecting it as their dream destination.
Contrary to expectations, European Union (EU) countries have seen a surge in demand, accounting for 48.8% of preferences, followed by the USA at 27.6% and the UK at 9.5%. Notably, the UK has experienced an 11.34% drop in demand due to changes in its dependent visa policy.
Shift in Preferences: Within the EU, countries like Germany (32.6%), Ireland (3.9%), France (3.3%), and other European nations (9%) have gained traction among Indian students in 2024, surpassing Canada. This trend underscores a shift in preferences among Indian students, who now view Europe as an affordable and high-quality educational destination that capitalizes on its strong industrial base.
The report, based on insights from over 25,000 aspirants across different cities, reveals compelling observations that are shaping the study abroad landscape in India.
Key Insights: The majority of study abroad aspirants have backgrounds in Engineering, followed by Commerce. Among the respondents, BTech graduates constituted 44%, followed by BCom (19%), BSc (15%), and BA (10%) graduates.
In terms of work experience, 44% of respondents were fresh graduates, while 23% had 0-2 years of experience, 19% had 2-6 years of experience, and 14% had over 6 years of work experience. State Board students dominated the aspiration for studying abroad, representing 56% of respondents, with 32% from CBSE and the remaining 12% from ISC or IB boards.
The primary motivator for studying abroad was better job prospects, followed by quality education and the opportunity for permanent residency. Nearly 45.7% of respondents believed that studying overseas enhances their employability, exposes them to global job markets, and fosters professional growth.
Popular Programs: Management degrees were the most sought-after programs, chosen by 55.6% of respondents aiming to enhance their leadership skills. Additionally, 28.7% expressed interest in Computer Science and IT, reflecting the growing demand for advanced technology programs. Traditional Engineering and Medical Science degrees also garnered significant interest.
Approximately 41.1% of aspirants hailed from middle-class families with an education budget ranging from 16 to 25 lakhs. This affordability factor has contributed to the rise of destinations offering blended learning options. Another 40.4% had budgets between 26-50 lakhs. Most respondents (66.5%) preferred education loans to finance their study abroad plans, while 33.5% had self-funding options available.
Ankur Nyati, President of UpGrad’s Study Abroad segment, emphasized the evolving landscape of overseas education in India. He highlighted the expanding demand for global education driven by economic growth and innovative learning models. Nyati’s remarks underscored India’s potential to emerge as a leading talent hub, catering to the evolving global workforce needs.