44% of Indian parents want abroad education for their kids
Posted on February 28, 2019
44% of the parents in India want abroad education for their kids. This has been revealed by the latest HSBC report for overseas education trends in India. These parents are considering sending their children to Study Abroad. The most sought after overseas destinations are Australia, the US, and the UK.
The study has been held by HSBC. It elaborates that 52% of the Indian parents opted for the US for abroad education. It was followed by Australia with 46% and then the UK with 44%. The other preferred nations include Canada, Singapore, Germany, New Zealand, Austria, Japan, and Switzerland.
Ramakrishnan S Head of Retail Banking and Wealth Management HSBC India elaborated on the latest abroad education trends. There is an obvious eagerness among Indian parents to send their children for Study Overseas, he said. It could be for overseas work experience or enhancing skills in the language. This is to nations such as Australia, the US, and the UK, he added.
Meanwhile, the huge financial burden remains the chief concern for them while sending their kids to study abroad. 42% of the Indian parents said that overseas education incurs huge financial expenditure on the family.
It is interesting to note that parents in Australia, the US, and the UK also feel the same. 64%, 65% and 63% of them in these nations share the sentiment with parents in India.
The survey witnessed participation from 1507 students and 10, 478 parents from 15 nations.
Charlie Nunn Wealth Management Group Head for HSBC said that there is a rise in the information economy. The job market is also challenging and education has never been so important today than ever before, he added.
Parents are aware of this scenario said, Charlie. They are ready to go to great lengths for securing right abroad education for their kids, he added.
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