Indian parents want to send their children to study abroad. According to a new report, as many as 44 percents of parents in India are mulling to send their children abroad and most sought after destinations are the US, UK, and Australia.
The research done by HSBC says that 52 percent opted to study in US as the destination followed by Australia with 46 percent and the UK is third with 44 percent. The other destination includes countries like Canada, Germany, Singapore New Zealand, Japan, Austria, and Switzerland.
“There’s a clear appetite from parents in India to send their children overseas, whether that’s to gain international work experience or improve language skills in countries such as the UK, the US, and Australia,” HSBC India Head-Retail Banking and Wealth Management Ramakrishnan S said.
However, the massive financial burden is still the key concern for parents in India when it comes to sending their kids to study abroad as 42 percent of the respondents said the international education does incur massive financial cost on the family.
Interestingly, the people living in the UK, the US and Australia also feel the same and 63 percent, 65 percent, and 64 percent parents of these countries share the sentiment with Indian parents.
The views of 10, 478 parents and 1507 students in 15 countries participated in surveys.