Mumbai, March 14 According to a report, Indian students are increasingly choosing destinations like Spain, Germany, Singapore, the UAE, and South Korea due to their affordable and high-quality education.
While destinations like the US, Canada, the UK, and Australia continue to be highly desirable, especially the US for STEM courses, Indian students are also actively diversifying their choices to other countries, the report by education-focused NBFC Auxilo Finserve said.
This shift is influenced by factors including affordability, the quality of institutions, visa norms, internship and employment opportunities, and student safety.
"Indian students today are far more pragmatic and ROI-driven in their approach to overseas education," said Auxilo Finserve CBO - Overseas Loan, Shweta Guru.
"Countries like Spain, Germany, and New Zealand are witnessing strong demand as they offer high-quality education, affordability, clearer visa pathways, and better alignment between education and employment outcomes, especially for postgraduate and Science, Technology, Engineering, and Mathematics (STEM) programmes," she added.
Several non-traditional European destinations have recorded strong and sustained growth between 2023 and 2025.
According to the report, the total course cost in these destinations is between Rs 18-40 lakh per year, compared to Rs 60-90 lakh per year in traditional destinations like the UK. The time to employment in emerging destinations like Germany, Spain, and others is 6-9 months, compared to 9-15 months in traditional destinations. The average starting salary is Rs 25-45 lakh, compared to Rs 45-75 lakh.
The data indicates a growing acceptance of these markets as first-choice destinations by Indian students, the report added.
The evolving study-abroad landscape indicates a more mature, research-driven decision-making process, where emerging destinations are no longer considered fallback options but strategic first choices for a growing segment of Indian students, the report said.
"We expect this trend to continue strongly this year as well," Guru added.
Auxilo said it has enabled education financing for over 18,000 students across more than 1,600 universities in over 30 countries.