- HSBC’s Quality of Life report reveals a shift in international education preferences.
- Singapore emerges as a rising education destination for Asian students.
- Younger generations prioritise universities closer to home over traditional destinations.
A new study shows more Asian parents want their kids to study closer to home, with Singapore becoming a top choice.
Singapore Rises as Education Destination
According to HSBC, more parents in Asia want to send their children to study in nearby countries.
Singapore is becoming a popular choice for students from China, Malaysia, Indonesia, and India.
The bank’s report looked at what 11,200 well-off adults in 11 countries think about education abroad.
It found that 51% of parents want their child to study overseas or already have a child studying in another country.
Young Asian Parents Prefer Closer Options
The study shows that young asian parents think differently about where to send their kids for school.
About 70% of Gen Z and Millennial parents would choose a university closer to home over one with a better ranking.
Only 55% of older parents (Boomers) would do the same.
Generation | Prefer Closer University |
---|---|
Gen Z & Millennials | 70% |
Gen X | 62% |
Boomers | 55% |
Why Singapore is Attractive
Ashmita Acharya from HSBC Singapore said, “Singapore’s growing appeal as an education destination reflects a wider trend in international education, particularly amongst younger parents in Asia.”
Singapore’s universities are known for being good and less expensive than schools in the US or UK.
The country is also close to many Asian countries, making it easier for students to visit home.
What Parents Value in Education
The HSBC report shows that parents care about different things when choosing a school for their children.
- 78% of parents globally would pick a university that matches their child’s interests
- 66% believe international education gives valuable global exposure
- 75% of Millennials would pay more for education that offers travel chances
These preferences might change how universities design their programs.
It might also affect how countries like Singapore promote their education systems to attract students.
Innovation in Education
The report states, “82% of Millennials believe that an innovative education is important, compared to 68% of Boomers.”
This shows that younger parents value new ways of teaching more than older generations do.
It could lead to changes in how schools in Singapore teach students.
Universities might offer more modern courses to meet this demand.
Financial Considerations
Studying abroad can be expensive.
This is why some parents are looking at options closer to home.
Singapore’s universities offer good education at lower prices than some Western countries.
This could be why more Asian parents are considering Singapore for their children’s education.
Preparing for the Future
The changing trends in education show that students and parents are thinking differently about the future.
They want education that prepares them for new jobs and technologies, while being closer to home.
Singapore is well-positioned to meet this demand, with its proximity to Asian countries and its strong focus on education.
Do you think studying closer to home is better than going to a famous university far away?