What are the most expensive study abroad destinations?

international study costs

While the number of international students worldwide continues to grow, the cost of studying abroad does not seem about to move down. Students’ favorite study destinations are indeed quite often the most expensive ones. According to an HSBC survey, though nearly 74% of parents would like their children to go study abroad, more than 50% wish they had started saving earlier. Spotlight on the cost of international university study.

International study costs across 15 countries

Australia is the most expensive study abroad destination. That's what a recent survey from HSBC bank on the cost of studying abroad shows. The 15 countries included in the ranking are also studied in the Value of Education - Springboard for success HSBC report, which analyzes the behavior of over 4,500 parents towards their children’s education.

The ranking of countries where international study is the most expensive is not only based on the comparison of the average tuition fees in the 10 largest universities in each country. It also takes into account the average cost of living in the cities where the best universities of each country are located. Thus, even if US higher education tuitions fees are beating all records, the cost of living in Australia is so high that the country ends up being a more expensive study location than the United States.

Rank

Country

Annual university costs (USD)

Annual cost of living (USD)

Annual total cost (USD)

1

Australia

24,081

18,012

42,093

2

Singapore

18,937

20,292

39,229

3

United States

24,914

11,651

36,564

4

United Kingdom

21,365

13,680

35,045

5

Hong Kong

13,444

18,696

32,140

6

Canada

16,746

13,201

29,947

7

France

247

16,530

16,777

8

Malaysia

2,453

10,488

12,941

9

Indonesia

4,378

8,527

12,905

10

Brazil

59

12,569

12,627

11

Taiwan

3,338

8,573

11,911

12

Turkey

1,276

10,089

11,365

13

China

3,844

6,886

10,729

14

Mexico

750

8,710

9,460

15

India

581

5,062

5,624

Are high study abroad costs a quality guarantee?

The Value of Education study showed that more than half of the interviewed parents consider the United States as one of the three countries offering the best quality of education. The ranking of countries according to quality of university education seems to show that the more a country’s educational system is renowned, the more the cost of studying tends to be high. The highest rated countries are in fact in the top 5 of the most expensive destinations for foreign students...

1. USA

2. United Kingdom

3. Australia

4. Canada

5. China

6. France, Singapore

7. Hong Kong

8. India

9. Malaysia

10.  Taiwan

11.  Brasil, Indonesia, Turkey, Mexico.

To find out more about the cost of international study:

Take a look at the Value of education – Springboard for Success report.

Learn about the cost of living in a large number of cities worldwide on Expatistan.

Date of publication Nov 16 2015

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