- published on 3/14/2022
- 4min
What are the most expensive study abroad destinations?
While the number of international students worldwide continues to grow, the cost of studying abroad does not seem to be going down. The most popular study destinations for students are often the most expensive. According to an HSBC survey, while nearly 74% of parents would like their children to study abroad, more than 50% of them wish they had started saving earlier. Check out our spotlight on the cost of international university studies.
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Discover our insurance plansStudying abroad can be an enriching and life-changing experience for students, but it can also be expensive. The cost of tuition, accommodation, and living expenses can vary greatly depending on the destination.
Costs of international studies in 15 countries
Australia is the most expensive destination to study abroad, according to a survey by HSBC Bank on the cost of studying abroad. The 15 countries included in this ranking were also studied in the Value of Education: Springboard for Success HSBC report, which analysed the behaviour of over 4,500 parents towards their children’s education.
The ranking of the most expensive countries to study internationally is not only based on a comparison of the average tuition fees at the top 10 universities in each country. It also takes into account the average cost of living in the cities where the top universities of each country are located. Thus, even if US higher education tuition fees are record-breaking, the cost of living in Australia is so high that the country ends up being a more expensive place to study than the USA.
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 the high costs of studying abroad a guarantee of quality?
The Value of Education study showed that more than half the parents surveyed considered the United States to be one of the three countries with the best quality of education. The ranking of countries according to the quality of university education seems to show that the better a country’s educational system is, the more expensive it tends to be to study. In fact, the highest-rated countries are in the top 5 most expensive destinations for foreign students...
USA
United Kingdom
Australia
Canada
China
France, Singapore
Hong Kong
India
Malaysia
Taiwan
Brasil, Indonesia, Turkey, Mexico
> Learn more : Settling abroad: what are the world’s happiest countries?
For more information on the cost of international studies:
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.
Studying abroad can be a life-changing experience that comes with a significant financial commitment. Understanding the most expensive study abroad destinations and taking steps to manage your costs can help you make the most of this opportunity without breaking the bank.
At APRIL, we provide international student insurance, which can protect your medical needs while you are studying abroad in your dream destination. Click here to find out more.
