Mumbai, Dec 11 (PTI) More and more parents are sendingtheir children overseas for higher education with around 62per cent of the parents in a poll saying they sent their kidsto foreign universities in 2017 as against 47 per cent in2016, claims a study.
The findings are based on the study of over 8,000parents across 15 countries and territories which found that42 per cent parents would consider sending their children touniversities abroad, compared to 35 per cent in 2016.
Ambitious parents in Asia are boosting the trend whereIndia leads the tray with 62 per cent of the parents doing so,followed by Indonesia (61), China (59), Hong Kong (52),Malaysia (51) and Singapore (47), as per an HSBC report.
"With the rise of the information economy and achallenging job market, education has never been moreimportant than it's today. Parents know this and they arewilling to go to great lengths to secure the right educationfor their children," HSBC group head for wealth managementCharlie Nunn said in the report.
Asian parents appear to be much more focused on thecompetitive advantage an overseas university can offer theirchild, it said.
Parents see the main benefits of a universityeducation abroad as being to help their child gaininternational work experience (49 per cent), develop foreignlanguage skills (49 per cent) and to be exposed to newexperiences, ideas and cultures (48 per cent).
Overall, the US is the most considered internationaleducation destination (47 per cent), ahead of Australia,Britain, Canada, Germany and France.
Nearly 73 per cent parents consider a foreignuniversity education for their kids and are ready to make asignificant financial contribution for the same.
The overall average cost for an undergraduate andpostgraduate degree abroad is around USD 1,57,782 (USD71,580for an undergraduate and USD 86,202 for a postgraduatecourse), it said.
Around 45 per cent of parents would go further andconsider buying a property in the country where their child isstudying, claim survey. PTI HV BENBEN.
This is unedited, unformatted feed from the Press Trust of India wire.