(Image source from: Newindianexpress.com)
As many as 44 percents of parents in India are thinking about sending their children abroad particularly to the United States, the United Kingdom, and Australia, according to a new report.
The research done by HSBC says that 52 percent opted the U.S. 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 U.S., and Australia,” said HSBC India Head-Retail Banking and Wealth Management Ramakrishnan S.
However, the massive financial burden is still the key concern for parents in India when it comes to sending their kids 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 U.S. 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 total of 10,478 parents and 1507 students in 15 countries participated in surveys.