upGrad, a leading player in learning, skilling, and workforce development, has unveiled its annual Study Abroad Trends Report 3.0, offering valuable insights into the changing landscape of international education preferences among Indian students.
Based on data collected from over 25,000 aspirants across Tier 1/Metros (42.8%) and Tier 2/Tier 3 cities (57.2%), the report, compiled under upGrad Abroad arm, provides comprehensive observations on emerging trends. Notably, Canada's popularity has declined significantly, with only 9.3% of respondents considering it their dream destination.
Contrary to expectations, European Union (EU) countries have witnessed a surge in demand, accounting for 48.8% of preferences, followed by the USA (27.6%) and the UK (9.5%). The decline in the UK's popularity (by 11.34%) is attributed to changes in visa policies. Destinations like Germany (32.6%), Ireland (3.9%), France (3.3%), and other European nations (9%) have surpassed Canada, reflecting Indian students' growing preference for Europe due to its affordability and high-quality education.
Key Findings From The Report Include
The majority of study abroad aspirants have an engineering background (44%), followed by commerce (19%), science (15%), and arts (10%) graduates.
Regarding work experience, 44% are fresh graduates, 23% have 0-2 years of experience, 19% have 2-6 years, and 14% have over 6 years.
State board students dominate aspirations for studying abroad, with 56% of respondents, while 32% are from CBSE and the remaining 12% from ISC or IB boards.
'Better Jobs' emerged as the top motivator for studying abroad, followed by 'Quality Education' and 'Permanent Residency.'
Management degrees are the most sought-after programs (55.6%), followed by Computer Science and IT (28.7%), reflecting a demand for leadership skills and technological expertise.
41.1% of aspirants come from middle-class families, with an education budget ranging from 16 to 25 lakhs, contributing to the popularity of affordable destinations and blended learning.
66.5% of respondents prefer education loans to finance their studies abroad, while 33.5% rely on self-funding.
Ankur Nyati, President of Study Abroad at upGrad, commented on the report, stating, "The demand for overseas education in India is witnessing wider acceptance, driven by economic growth and blended learning models. With over 4000 upGrad learners pursuing programs abroad in 2023, we anticipate further growth. We are expanding across geographies, with France being our latest move, offering quality international education. This report reflects India's progress and adaptability in the global education landscape."
The study underscores the evolving preferences and aspirations of Indian students, highlighting the need for educational institutions to align their offerings with changing trends to cater to the demands of a dynamic workforce.
