Get ready to pack your bags because the latest Study Abroad Trends Report 3.0 from ed-tech unicorn upGrad has some exciting news! Germany has officially taken over Canada as the premier study abroad destination in 2024. So, if you’re looking for an unforgettable international educational experience, Germany should definitely be at the top of your list!
A recent survey revealed that Canada’s popularity as a dream destination has sharply declined due to various reasons, including diplomatic tensions with India, rising living costs, job uncertainty, and a drop in study permits issued to Indian students. According to the report, EU countries are witnessing wider demand followed by the US and the UK. The survey collected insights from over 25,000 aspirants across different cities.
Overseas education in India is gaining popularity due to blended learning models and economic growth. India can emerge as the largest talent economy and mobilize a skilled workforce for global jobs. UK’s withdrawal of dependent visa policy has led to a drop in demand for UK education among Indian students. Meanwhile, destinations like Germany, Ireland, France, and other European nations are gaining popularity among Indian students.
Indian students are increasingly choosing European destinations for higher education due to the availability of diverse programs, affordability, and high-quality education. Majority of study abroad aspirants have an engineering background, followed by commerce degree holders. 44% of respondents were fresh graduates and the rest had varying levels of work experience.
‘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.
Over 50% of learners choose management degrees to enhance leadership skills, while computer science and IT are popular choices for 28.7%. Around 41.1% of students have an overseas education budget of Rs 16 to 25 lakh, while 40.4% have a budget between Rs 26 lakh and Rs 50 lakh. 66.5% of respondents prefer education loans to meet study abroad costs, while 33.5% have access to self-funding.
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