What are Hong Kong parents’ most preferred destinations for overseas education?

Seven in 10 plan to send their children abroad for tertiary education.

The United States, United Kingdom, Canada and Australia remain the preferred destinations of parents in Hong Kong and China when choosing a location to send their children to study.

Data from HSBC Life showed that Singapore and Japan (16%) have also emerged as top picks for overseas education by parents in China and Hong Kong.

There has also been an increasing intention for cross-border education between mainland China and Hong Kong.

About 7% of respondents from Hong Kong are considering mainland China as an education option, whilst 6% of mainland China respondents are looking to Hong Kong for future education opportunities.

Parents in China and Hong Kong are also likely to send their children abroad for education at a younger age, with 70% wanting to send their children overseas for tertiary education.

Meanwhile, the study also found that many parents are finding overseas education costs to be increasing.

The most commonly cited reason of parents who said that costs of overseas education have become higher than anticipated (58%) is the changes to accommodation costs and living expenses (24%).