Punjab Students Spent $3.7 Billion on Education in Canada Last Year, Report Reveals
Punjab students spent a staggering $3.7 billion on higher education in Canada last year, according to the Indian Student Mobility Report (ISMR) 2023-24 by University Living. Despite rising costs and stricter immigration policies, Canada continues to attract Indian students, with Punjab leading the way in contributions. Overall, Indian students spent $11.7 billion on education in Canada during the 2022-23 academic year. The ISMR report highlights Punjab, Maharashtra, and Andhra Pradesh/Telangana as the top contributors to India’s international student population. Canada remains the preferred destination for Indian students, followed by the USA, Australia, and the UK. The overall expenditure by Indian students on international education surged to $60 billion in 2023, up from $37 billion in 2019. This figure is projected to reach $70 billion by 2025, with the number of Indian students studying abroad expected to rise from 11.8 lakh in 2022 to 15 lakh by 2025, growing at an 8% annual rate. Canada’s appeal stems from its strong academic programs, post-study work opportunities, and immigration pathways. Despite new restrictions on study permits, immigration experts believe that the fundamentals keeping Canada attractive for Punjabi students—academic excellence and pathways to settlement—remain unchanged. Saurabh Arora, CEO of University Living, noted that for many Punjabi students, studying abroad is closely tied to future settlement opportunities. Although new immigration rules have led to a drop in applications for the 2024 intake, experts suggest the long-term appeal of Canada remains strong. However, some experts, such as Dr. Vishal Sarin from LPU, warned of the potential economic consequences for Punjab, with the ongoing outflow of students undermining the state’s future workforce. Families selling agricultural land to fund foreign education could threaten Punjab’s long-term stability, Sarin added. Source: Tribune India