83% Believe A Foreign Degree Will Give An Edge Over Peer Competition, Talent Pool: Report

The Leap-IpsosStrategy3 Study Abroad Outlook Report was unveiled today showing glimpses into the overseas education market

South Asia’s largest overseas education platform Leap organised its flagship event - LeapGlobal Edu Forum 2022. The Leap-IpsosStrategy3 Study Abroad Outlook Report, a report on the overseas education market, was unveiled at the event.

With over 57 per cent of Indian middle classes (household income of 3-10 lakhs INR) inclined to spend on overseas education, the report further gives a critical insight of how foreign education is becoming popular with the largest segment of the Indian population. Additionally, when asked about the factors that make a destination preferable - superior education and lifestyle, global career opportunities, and better salaries emerged as the top three reasons for a majority of them.

The report maps the overseas education landscape in India, opportunities and trends. It unfolds notable findings such as:

- Indian Overseas Degrees Provide an Edge over Talent Pool in Home Country as per students: 83 per cent of students believe an overseas degree will enhance their prospects of securing better job opportunities and provide an edge over peer competition and talent pool. 

- Non-English speaking destinations gain popularity with Indian students: Thanks to global connectivity, 42 per cent of Indian students are open to destinations beyond anglophone countries that don't have English as their first language. This reflects that Indian students are widening their choices and becoming more flexible in their preferences of an overseas education destination. Factors they are considering for making this choice include university ranking, scholarship, cost of living, etc.

- Study abroad loans become more Accessible and Simplified: Aspirants are showing more trust in taking education loans. The study shared in terms of funding education, over 62 per cent of Indians prefer education loans, closely followed by scholarships at 53 per cent. The significant increase in preference for education loans is expected to boost the study abroad loan market in the coming years.

- Post-Covid, 'Study from Campus' gains popularity: With studying from home becoming the only option available during Covid, students had chosen to pick up online/ hybrid courses in the last two years. However, now 80 per cent of study abroad aspirants have said that they prefer studying from campus/face-to-face learning as it provides them with an opportunity to strengthen their peer networks and adds face value to their interactions.

Research Methodology and Profile of Respondents

This is a pan-India comprehensive study that dives deep into the emerging destination preferences, changes in needs and choices, psychosocial trends and outcomes including behavioural and perception shifts. The total aspirants covered during the course of the study include a wide sample size of respondents from pan India. About 60 per cent of the aspirants covered are males, 39 per cent are females and 2 per cent do not prefer to say. About 2/3rd of the aspirants were observed in the 18-24 years age group; about 34 per cent from the 25-30 years age group. 

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