Mar 22, 2024
While exploring trends in higher education abroad in India, KC Overseas discovered something interesting: Of late there is a surge in the number of students aspiring to study abroad from tier 2 and tier 3 cities.
Approximately 57.2% of study abroad aspirants are from Tier 2 and Tier 3 cities, while 42.8% are from Tier 1 cities as per the latest observation in 2024. This shift in interest is noticeable across various regions of India, from Darjeeling in the east to Vadodara and Surat in the west, from Ludhiana and Lucknow in the north to Nagpur and Raipur in central India, as well as Thiruvananthapuram and Kottayam in the south.
This trend is mainly driven by the rise in household income among Indian families. Over the years, the middle-class population has surged from 78 million in the 2000s to over 700 million in 2022 in India, as reported by the World Data Lab. Consequently, Indian households are estimated to allocate more than $70 billion towards their children's higher education abroad.
As per Kishore Dattu, Indian National Students Association (INSA) UK’s General Secretary “There is increasing demand from tier 2 cities because of the increased income and access to information, particularly in local languages and Indian education system is not yet meeting the growing demand in India.”
Additionally, the data shared by the Ministry of Finance in Lok Sabha in the fiscal year 2022 highlighted that India’s public sector banks have disbursed over ₹7,576 crores in education loans, with 90% of the loans designated for higher education abroad. Furthermore, Prodigy Finance - a UK-based student lending company has reported a significant increase in loan applications from Tier 2 and Tier 3 cities, rising by 53% and 109% respectively in the same year.
So, this is the latest piece of news that is driving the demand for higher education abroad in Tier 2 and Tier 3 cities. As India is gearing up to become the world's third-largest economy by 2027, the education sector is set to play a significant role in achieving this milestone. As a result, the demand for study abroad consultants or study abroad recruiters is also skyrocketing.
It’s a known fact that most of the budding study abroad recruiters look for knowledge-based support which plays a crucial role in this industry. An easy way to gain all the support for the student services apart from the required knowledge and exposure to global universities can be by looking for a Study Abroad Partner or Franchisor.
If you wish to connect to one such renowned franchisor who can give you all the required support and share the latest industry updates keeping you abreast with this dynamic industry, then KC Overseas Education is the one-stop solution for you. We not just welcome collaborations in the form of Partner Recruiters but are also open to giving study abroad franchise opportunity in India and South Asia. So, you can check for the franchise as per your preferred region.
With our expertise and your passion for making a difference, there is no limit to what we can achieve together in shaping the future of study abroad aspirants from India, South Asia, and even Africa.