Punjab, Telangana and Maharashtra are the top states from where students go overseas for higher education while Germany, Kyrgyzstan, Ireland, Singapore, Russia and France are among the new preferred destinations for Indian students, as per a report. The Beyond Beds and Boundaries: Indian Student Mobility Report, 2023 launched at a Global Education Conclave today, October 27, offers insights into the dynamics of Indian students pursuing higher education abroad, with a particular focus on the United States (US), the United Kingdom (UK), Canada and Australia.
As per the report, "In 2019, approximately 10.9 lakh Indian students pursued their education abroad. This figure witnessed a 7 per cent growth in 2022, escalating to around 13.24 lakh students. If the current growth rate of 15 per cent sustains, the number of Indian students studying overseas is projected to soar to approximately 20 lakh by the year 2025," as stated in a report by PTI.
“Traditionally, Indian students have preferred countries like the US, Canada, the UK and Australia. However, recently other countries have also emerged as preferred destinations, including Germany, Kyrgyzstan, Ireland, Singapore, Russia, Philippines, France and New Zealand," it added. Additionally, the report has projected that the spending by Indian students on overseas education is expected to skyrocket to an astounding USD 70 billion by 2025.
“In 2019, Indian students spent an estimated USD 37 billion on education abroad. This expenditure experienced a 9 per cent surge in 2022, reaching a substantial USD 47 billion. If the sector continues to grow at the current rate of 14 per cent, the projected spending by Indian students on overseas education is expected to skyrocket to an astounding USD 70 billion by 2025," it added.
The report has been compiled by University Living Accommodations, a global student-housing managed marketplace and One Step Global, a specialised market entry firm, helping global academic institutions, academic service providers and government organisations to grow their footprint across Asia.
Additionally, the report also addresses the difficulties faced by Indian students in finding suitable accommodation in their destination countries, emphasising the complexities of securing appropriate living conditions and the necessity for streamlined processes and support services to alleviate these challenges.
"Governments across the world need to put in place a national housing strategy, establish a clear, comprehensive, and coordinated approach to addressing the student housing problem through setting national goals for student housing availability and affordability, establishing guidelines for local student housing policies and providing funding and resources for student housing initiatives," it said, as stated in a report by PTI.