Vietnam Net Bridge, 22 July 2015. Vietnamese parents spend $1.8 billion/year for children’s overseas studies by Minh Thuy.

An edited extract of the original article appears below.

HSBC has just released its “Learning for Life Report” that reveals that Vietnamese parents spent approximately $1.8 billion in 2013 for their children’s education abroad. That figure is approximately 1 per cent of GDP.

…Vietnamese parents set high expectations for education of their children. Over 50% of the parents said that the university diploma is the minimum standard required for their children to achieve important goals in life.

The survey of more than 5,550 parents in 16 countries also shows that 77% of the parents would consider sending their children abroad for college or post-graduate training in order to equip their children with a good start in the job market…

In Vietnam, according to the Ministry of Education and Training, about 125,000 Vietnamese students studied abroad in 2013. This figure increased by 15% compared to 2012 and has rocketed since the 2008-2009 period.

Education is the top priority of the Vietnamese so they are willing to pay. However, the cost is also a major barrier for Vietnamese students to pursue their studies in the US.

(…More generally), parents in Asia have the highest desire for overseas training. Most of the parents in Malaysia (80%), Hong Kong (74%), Indonesia (74%) and Singapore (74%) considered sending their children to universities abroad to complete higher education.

A higher proportion of parents in Asia, particularly India (88%), Turkey (83%), Malaysia (82%) and China (82%) considered seeking postgraduate training courses for their children…

(Ed’s note. More than 20,000 Vietnamese are studying in Australia in 2015.)

 

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