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India looking up as the most viable option for foreign education

HSBC Survey shows that the world is looking at India as one of the least expensive destinations for international education

Published by Shubhangi Pandey on 23-09-2014
 

Quick Bite

 

HSBC surveys more than 4000 parents in 15 different countries

 

The survey shows findings on foreign education

 

Singapore, US and Australia rank as topmost expensive countries

In a survey conducted by HSBC, a financial and banking company, India came out to be the least expensive country in terms of foreign education. It was a survey where 15 countries were pitted to know how viable they are financially when it came to providing education to foreign students. The criterion was based on foreign education for university undergraduate (UG) courses.

 

The other criterion in the survey was the quality of education where India ended up being eighth, the 1st being the US in terms of the quality standards of university education.

 

As per the survey results, the overall cost of education and living abroad for a UG course India, comes out be much less in comparison to other countries. Out of all the fifteen nations which were surveyed by HSBC, India, China and Mexico have got the last spots in the expenses. The countries with the most expensive education and living are Australia, US and Singapore, where the total expenditure goes to 42000$ from 35000$ approximately.

 

The survey also clearly showed the rise of the trend of foreign education. The parents as well as the children are becoming more aware of the options in education worldwide and hence are keener on getting global exposure.

 

US has emerged as one of the top destinations in terms of quality of foreign education and more than 60% of the Indian parents would prefer to send their children there for higher education. HSBC surveyed around 4500 parents in the 15 different countries where the survey was conducted.

 

The survey clearly concludes and suggests that the importance of global exposure has made foreign education all the more essential even though when the expenditure of it is much higher.

 

Take a look at the table for the results of the survey:

Country

University Fee (USD/yr)

Living Cost (USD/yr)

Rank as per Costs

Quality of Education Rank

Australia

24.081

18,012

1

3

Singapore

18.937

20,292

2

6=

United States

24.914

11,651

3

1

United Kingdom

21,365

13,680

4

2

Hongkong

13,444

18,696

5

7

Canada

16,746

13,201

6

4

France

247

16,530

7

6=

Malaysia

2,453

10,488

8

9

Indonesia

4,378

8,527

9

11=

Brazil

59

12.569

10

11=

Taiwan

3,338

8,573

11

10

Turkey

1,276

10,089

12

11=

China

3,844

6,886

13

5

Mexico

750

8,710

14

11=

India

581

5,062

15

8

 

Source: HSBC Survey Report

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