Punjab students spent $3.7 bn to pursue studies in Canada last year

Despite rising costs and tight immigration policies, Indian students continue to choose Canada as a leading destination for higher education.

CEO of University Living, said according to the Living’s Indian Student Mobility Report (ISMR) for 2023-24, Indian students collectively spent $11.7 billion while pursuing higher education in Canada during the last academic year, with Punjab alone contributing $3.7 billion.

He said the ISMR report highlights Punjab, Maharashtra and Andhra Pradesh/Telangana as the top contributors to India’s international student population, followed by Gujrat, Tamil Nadu and Delhi. After Canada, the other top destinations for Indian students are the USA, Australia and the UK.

The report also reveals that Indian students’ overall expenditure on international education has surged to $60 billion in 2023, up from $37 billion in 2019, and is projected to reach $70 billion by 2025.

The number of Indian students studying abroad is expected to grow from 11.8 lakh in 2022 to 15 lakh by 2025, at an annual growth rate of 8 per cent.

Canada remains a preferred destination due to its robust academic programmes, post-study work opportunities and immigration pathways, say immigration experts.

They said although Indian student enrolment in Canada was expected to grow from 2.80 lakh in 2022 to 3.49 lakh by 2025, it remained to be seen how these numbers would shape up in the upcoming season following the recent restrictions.

On an average, each Indian student spends about $27,000 on tuition fee alone, and when accommodation and living expenses are added, the total reaches approximately $40,000.

This means Punjab’s contribution, initially reported at $3.7 billion, could realistically be closer to $7 billion annually.