This report, commissioned by HSBC, surveyed 8,481 parents in 15 countries and territories. Some key findings include the following:

Parents in India are the most optimistic, with 87% confident that their child will have a bright future, 85% that they will get a great job, and 82% that they will get top grades in exams. The global averages are 75%, 68% and 62% respectively. China came second in the optimism stakes, with figures not far behind India.

However, anxiety among parents is also high, an average of 59% across the markets surveyed suggesting they are not doing enough for their children, the highest rate being Indonesia at 75%.
Hong Kong tops the global list in terms of how much parents pay for their children’s education up to undergraduate level, at USD132,100. This compares with a global average of USD44,200. The UAE comes second at USD99,400, Singapore third in this measure at USD70,900. By comparison parents in Indonesia spend on average USD18,400.

On average 41% of parents would consider university education abroad, with higher proportions in UAE (65%), Indonesia (60%), India (55%), China (54%), Hong Kong (53%), Malaysia (51%) and Singapore (45%).

Among parents polled by HSBC for the study, the UK is the third most preferred study abroad destination, after the US and Australia. However the UK is the most preferred destination among parents in Hong Kong and the UAE.

According to the study the quality of teaching is the most significant factor in deciding institution, followed by prestige of the university and job prospects. A relatively high proportion of parents in Indonesia, Malaysia and the UAE already have institutions in mind.

Parents in different countries have some differences in terms of how they rate the benefits of overseas university education. Those in Indonesia are the most likely to view language skills as the main benefit (work experience is also seen as a main benefit in Indonesia), while those in Malaysia and Singapore most highly rate exposure to new experiences.

The study also suggests a high level of awareness and acceptance of online degrees.

Source:
‘Reproduced with permission from The Value of Education Higher and higher, published in 2017 by HSBC Holdings plc.’