Asia-Pacific universities gaining appeal

MANILA, Philippines - Close to two-thirds of parents in the Asia-Pacific plan to send their children to local universities for higher education, with the majority of those in Vietnam (79%), Bangladesh (78%), Japan (76%), India (75%), the Philippines (69%), Singapore (69%), Thailand (67%), Indonesia (64%), New Zealand (61%), Taiwan (57%) and Australia (53%) intending to do so, according to MasterCard’s survey on Consumer Purchasing Priorities – Education.

Over the last decade, undergraduate education enrollment across the Asia-Pacific region has been growing rapidly. More universities in the region have been noted on global rankings, making the education sector very competitive. According to the MasterCard survey, in H2 2014, more parents in Japan (up 13 percent to 76 percent), Singapore (up 9 percent to 69 percent) and Thailand (up 7 percent to 67 percent) plan for their children to attend universities locally, compared to one year ago.

The research is based on a survey conducted between October and November 2014 on 8,235 respondents aged 18 – 64 in 16 Asia-Pacific countries who were asked questions about their education spending priorities. The survey findings are part of MasterCard’s suite of research into consumer purchasing priorities in the Asia-Pacific region.

Key findings

While the majority of parents in Japan, Singapore and Thailand favor local universities, the majority of parents in South Korea (62 percent), China (57 percent), Malaysia (53 percent) and Hong Kong ( percent), view an overseas education as more attractive.

The US, Canada, Brazil and Mexico are the overseas destinations of choice (13 percent, followed closely by Europe, 12 percent) for Asia-Pacific parents who intend to send their children abroad for university: South Korea, 36 percent; China, 33 percent, and Taiwan, 33 percent. Asian universities are the least popular among parents in the region at 6 percent. 

“Asia-Pacific universities are moving up in the global university rankings, and today, one-eighth of the world’s top 200 universities are in the region. The increased investments in education as well as tie-ups with universities abroad have enhanced the education offerings available,” said Georgette Tan, group head for communications, Asia Pacific, MasterCard.