Overseas education spending by Indians drops to 5-year low.
Spending by Indian students studying overseas has reached a five-year low, reflecting major shifts in global education trends.
Tighter Visas in Key Nations Lead to 30% Drop in Indian Remittances
Stricter visa rules in major destinations like the US, Canada, Australia, and the UK are directly affecting student travel, with Indian remittances to the US alone dropping 30%.
Inflation and a weakening global job market are making international education less accessible and appealing, creating huge financial pressure for many aspiring Indian students.
Fewer international students mean big economic losses for host nations, particularly the US.
10% drop = $3.4B US GDP hit
Potential 30-40% decline: $7B US loss
Over 60,000 jobs at risk
Beyond universities, local businesses, from restaurants to healthcare, are experiencing decreased spending. This is leading to job cuts and program suspensions in communities that rely on student activity.
Amidst the decline, new trends are emerging in the international education landscape:
+ UK sees unexpected gains
+ Rise of hybrid & online programs
+ Alternative destinations emerge
Despite challenges, new opportunities and strategies can help Indian students achieve their study abroad dreams:
+ Explore scholarship opportunities + Consider hybrid and online program models + Research emerging and alternative study destinations + Focus on smarter financial and career planning