More and more Indian parents are sending their children to study abroad for higher education. In a poll around 62 percent of the parents said that they sent their kids to the foreign universities in 2017 as compared to 47 percent in 2016.
The findings are based on the study which involved 8000 parents from across 15 countries and UTs.
The trend of sending their kids to foreign universities is increasing in Asia with India topping the position with 62 percent of the parents doing so. In the trend India is followed by Indonesia (61), China (59), Hong Kong (52), Malaysia (51) and Singapore (47) according to the report.
"With the rise of the information economy and a challenging job market, education has never been more important than it's today. Parents know this and they are willing to go to great lengths to secure the right education for their children," HSBC group head for wealth management Charlie Nunn said in the report.
"Asian parents appear to be much more focused on the competitive advantage an overseas university can offer their child," the report added.
Following are the main benefits which the parents see in sending their child to the abroad:
- International work experience (49 per cent)
- Develop foreign language skills (49 per cent)
- Exposed to new experiences, ideas and cultures (48 per cent)
Among the foreign countries US is the most preferred destination for international education ahead of Australia, Britain, Canada, Germany and France.