The overseas spending in the first half of 2016 has shown a decrease of 18% compared to 2013.
According to the statistic provided by Korean bank, the total spending by Korean students in international institutions during January ~ June this year is 12 billion in GBP.
(the amount includes the short term programs with ELT and exchange programs)
This is 7.6% decrease from the same period in 2015. - The amount increased up to 14.7 billion pound in 2013 and has decreased to 12 billion in 3 consecutive years.
In terms of the number of students studying overseas, it hit a peak of 262,500 in 2011 and has decreased over the subsequent 4 years. - down to 214,700 last year.
The key reasons suggested are the diminishing advantage students can expect over the job market, while the economic downturn also has limited the access to the option of going abroad for their career development.
However, the most significant drop is from the US which has lost average of 4.5% from last 3 years, while UK has gained the number of students during the same period. And it suggests that the advantage for the job market is still valid and increasing for the UK graduate, while much narrower and more strict criteria is being imposed for the US graduates.