Indian Students Studying Abroad Are Likely to Spend 70 Billion USD by 2025

The Indian students studying abroad or have plans to study abroad by 2025 are likely to spend around 70 billion USD. Till 2022, the direct expenses incurred by Indian students was somewhere around 47 billion USD. This includes tuition fees, accommodation cost, and other living expenses. The expenditure is likely to increase by 2025 according to the recent growth rate of Indian students going abroad for higher education. Also, more than 1 million Indian students were studying abroad till 2023. Out of those, nearly 850,000 Indian students were enrolled in countries like the USA, Canada, UK and Australia. If the growth rate continues, the Indian students in foreign countries may reach up to 1.5 to 2 billion by 2025. 

Things that Attracts Indian Students to Study Abroad 

The reasons that attract students from India to study abroad are the quality of education, career growth and better lifestyle. Apart from top study abroad destinations, there are few more countries that have emerged as the most preferred destination to study by Indian students. The most popular of those include New Zealand, Ireland, France, Singapore, and Germany. These are comparatively affordable countries to study abroad in terms of tuition fees and other living expenses. 

Given below is the breakdown of expenses for Indian students in foreign countries.

Estimated Cost of Pursuing Master’s Degree Abroad:

The below graph displays estimated tuition fee range for pursuing a master's degree abroad for Indian Students: 

Estimated Cost of Pursuing Bachelor’s Degree Abroad:

The below graph displays estimated tuition fee range for pursuing a master's degree abroad for Indian Students:

Growth of Indian Student in the Study Abroad Market 

A total of 10.9 lakhs Indian students were studying abroad in 2019. The number increased by 7% in the year 2022 making 13.24 lakhs Indian students. If the growth rate continues, the number of Indian students studying abroad may go up to 20 lakhs by 2025. According to a report released by University Living, nearly 1.2 million Indian students were studying abroad in 2022 and 0.75% million of those went out that year itself. The number is more likely to increase in 2023 and may escalate by 1.3 million in top destinations like the USA, Canada, UK, and Australia.