Global Survey: Canada Ranks 3rd for Quality of Education and Life, and Job Prospects for International Students

MBA Blog / 2nd September 2016

According to newly-released data from an HSBC global study of 6,241 parents across 15 countries and territories, parents around the world say that when it comes to quality of education, quality of life and job prospects for international post-secondary students, Canada is a top-three destination.

Despite this broad-based appeal, the research also reveals that parents are twice as likely to choose the USA as Canada (48% vs 23%) as one of the top-three destinations for their child’s post-secondary studies (out of 50).

Canadians abroad: benefits and barriers of international studies

While 83% of parents in Canada say they see the benefits of completing studies abroad, they are among the least-likely in the world to say they would actually consider it for their child.   Further, a study by the Association of Universities and Colleges of Canada found that only 3.1% of full-time undergraduate students (about 25,000) in Canada had an international experience in 2014.¹

Betty Miao, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank Canada said: “Studying abroad helps students to develop the skills and mindset needed to collaborate and compete on a global stage. However, parents in Canada are amongst the least likely to say they’d consider sending their child abroad for post-secondary, with more than half of those surveyed saying that financial concerns were the biggest hurdle, followed by concerns about homesickness. Early planning and regular saving can help parents overcome these financial barriers and unlock the extra opportunities they wish for their child.”

Michael-James Viinalass-Smith is a bachelor of commerce student at Dalhousie University’s Rowe School of Business and HSBC International Business Award winner. Commenting on his four-month semester abroad at Skema Business School in Lille, France earlier this year, he said: “While I’d like to think finances wouldn’t stop me from pursuing my dreams, it definitely was a major factor in my decision-making. Spending a semester inEurope in these turbulent economic times was an eye-opener, and in a field like finance there is nothing better than having a really broad view of how different decisions in different parts of the world can affect people.”

The HSBC International Business Award will be granted to a total 60 students at 10 universities across Canada by 2018. Each recipient will receive a $10,000 award, and can also apply for a summer internship with HSBC Bank Canada.