Yahoo Finance 20 Cheapest Countries to Study Abroad
In this article, we are going to look at 20 Cheapest Countries to Study Abroad. If you want to skip our thorough analysis of the education sector of the world, you can go directly to 5 Cheapest Countries to Study Abroad.
When it comes to global education, it includes both traditional and online education. The digital education system business reached a market size of over $19.68 billion in 2023 and is expected to see a 20.2% compound annual growth rate between 2024 and 2032, expecting to reach $110.09 billion by 2032, according to Expert Market Research.
By 2023, it is expected that the education technology sector would expand at a 9.5% CAGR. It will go up from its approximate $230.62 billion in 2023 to $542.43 billion by 2032. For cost effective, efficient and flexible online learning, there's a need to increase it. There are universities like Oxford and Cambridge which are embracing digital platforms, as there's a huge demand of online learning by professors and students. By making the complex subject easy, incorporation of the integration of artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and the internet of things (IoT), the interest of students in classroom is boosted. Personalized learning plans supported by financial aid and other forms of government support is backed up by the market for educational technology which is evolving because of AI, VR etc.
As more students utilize digital platforms to set objectives, personalize their learning, and receive feedback that is especially catered to their needs in order to improve their performance, the trend of personalized learning is expanding. Government initiatives to increase educational accessibility have been essential in helping urban and rural students' achievement gaps to close, providing disadvantaged populations and students in distant areas with access to first-rate educational resources. By providing immersive and interactive learning possibilities for students globally, the integration of modern technologies into learning experiences is revolutionizing the educational landscape.
Studying overseas is more affordable for US students; although the degree program may be free, there will still be costs for students to pay. But they will be saving a ton of money with many European countries, namely, Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, and Estonia, as compared to the price of a bachelor's or master's program in the U.S. However, there can be limitations in place in some countries, such as, free education being exclusively available for students from the EU only. Nonetheless, these countries have comparatively cheaper educational costs.
Shifting our focus to some market players in the sector, there are 3 giants in the education sector which we’re going to discuss. Namely, Chegg, Inc. (NYSE:CHGG), Udemy, Inc. (NASDAQGS:UDMY), and Coursera, Inc. (NYSE:COUR) are going to be discussed.
Chegg, Inc. (NYSE:CHGG), an education technology company based in Santa Clara, California, offers homework help, textbook rentals, tutoring services, and other student support. In Q4 ending on December 31, 2023, Chegg (NYSE:CHGG) reported $188.0 million in net revenues overall, of which $166.3 million came from subscription services. Net income came to $9.7 million, with a gross margin of 76% and a non-GAAP gross margin of 78%.
The American online course provider Coursera, Inc. (NYSE:COUR) was established in 2012 by Stanford University instructors, Andrew Ng and Daphne Koller. It works with institutions and groups to provide degrees, certificates, and online courses in a range of fields. In the fourth quarter ending on December 31, 2023, with $168.9 million in total sales, Coursera (NYSE:COUR) recorded a 19% increase over $142.2 million in revenue the year before. With non-GAAP gross profit at $91.2 million (54% of revenue), gross profit was $89.3 million (53% of revenue). The largest industrial partner of Coursera's contract extension is responsible for the shift in expenses.
Gagan Biyani, Oktay Caglar, and Eren Bali founded the ed-tech startup Udemy, Inc. (NASDAQGS:UDMY) in May 2010 to provide an online platform for teaching and learning. Udemy (NASDAQGS:UDMY) reported a 15% year-over-year revenue rise to $189.5 million in the fourth quarter that ended on December 31, 2023, above its anticipated range by $3 million. Despite a 2-percentage point FX rate impact, Udemy Business' Enterprise sector witnessed a 27% year-over-year sales growth, hitting $114.7 million.
A college campus bustling with students, showcasing the company's commitment to higher education.
Methodology
To create our list of 20 Cheapest Countries to Study Abroad, we’ve used recent statistics for average tuition fees, taking into account both the higher end and the lower end of tuition fees. The ones with the lowest average tuition fees are ranked higher on the list. These countries consist of high-level educational institutions for bachelor's, master’s, and PhD. To see the quality of education system in these countries, we’ve taken into account the literacy rate of each country. Furthermore, the next step was to see the number of universities in the top 100 and 1000 rank from various sites like Times Higher Education. Altogether, these countries naturally make it to our 20 Cheapest Countries to Study Abroad. With this let’s now jump on to our ranking.
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20. New Zealand
Average tuition fee: $18,300
First on our list of 20 Cheapest Countries to Study Abroad is New Zealand; international students find New Zealand to be an appealing destination due to its exceptional education system and stunning scenery.
The outdoor lifestyle in New Zealand, which includes hiking, skiing, and water sports, enhances the educational experience by encouraging an appropriate balance between work and play. New Zealand provides an interesting and enriching environment for overseas students with its blend of demanding academics, breathtaking natural landscapes, and a welcoming, inclusive culture. New Zealand has 8 universities in the overall Times Higher Education World University Rankings, namely, University of Auckland sitting at 150th rank in the world.
19. Denmark
Average tuition fee: $13,055
The Danish educational system is renowned for its innovative teaching methods and high standards; the average cost of tuition for out-of-country students is around $13,055. Group projects and project-based learning are highly valued in Denmark, where they foster an environment that encourages students to work together, exercise critical thought, and express their creativity.
Strong corporate linkages are another feature of Danish universities that give students plenty of opportunities for internships and real-world experience, which are crucial parts of many degree programs. One example is the University of Copenhagen, which is ranked 107th in the world.
18. Netherlands
Average tuition fee: $12,224
Among the 20 Cheapest Countries to Study Abroad to pursue higher education, with tuition costs around $12,224, the Netherlands is ranked 18th. The Dutch government's dedication to education, which includes significant support for higher education institutions, is the reason for the comparatively lower cost of education, particularly when compared to nations like the USA or the UK. Additionally, a diverse range of English-taught programs are offered, drawing in students from around the world. 6 Dutch universities make the top 100 in the World University Rankings 2024, with Delft University of Technology standing at 48th rank.
17. Ireland
Average tuition fee: $12,000
At number 17 on our list of 20 Cheapest Countries to Study Abroad is Ireland. Ireland boasts one of the world's most sophisticated and extensive educational systems. It is separated into three levels: primary, secondary, and tertiary. International students can expect to pay an annual tuition charge of approximately $12,000 in Ireland. Normally, the cost structures of universities, colleges, and institutes of technology varies. Therefore, it is advisable to look over this before applying to a specific college or institution. Ireland is home to 8 universities in the QS World University Rankings, 6 of which can be found in the top 500.
16. Italy
Average tuition fee: $7,200
With a literacy rate of 99%, Italy is a cost-effective travel destination for students from abroad. Tuition and living expenses aside, Italy is among the most affordable study abroad destinations in Europe.
It is not possible for foreign students to study in Italy for free. However, in contrast to many other European nations, both EU and non-EU students in Italy pay the same tuition. The sort of program you want to enroll in and the university's status as a public or private institution determine the tuition costs in Italian institutions. However, there are many scholarships available which makes it a top destination for students. The University of Bologna is ranked 155th in the world, as per Times Higher Education World University ranking.
15. Lithuania
Average tuition fee: $5,972
Next on our list of the 20 Cheapest Countries to Study Abroad is Lithuania. With a literacy rate of 99.7%, its an ideal choice for many. The educational setting in Lithuania is attractive, with average tuition fees around $5,972. For overseas students, Lithuania is a hidden gem because of its low cost and strong educational system.
Lithuania has a long history of academic excellence, particularly in the humanities and sciences, which is supported by historic universities that combine cutting-edge research with conventional teaching methods. In Qs ranking 2024, the country's Vilnius Gediminas Technical University has a world ranking of 801.
14. Belgium
Average tuition fee: $5,450
With an average tuition cost of around $5,450, Belgium catch the eye because of its appealing combination of affordability and quality. Vast linguistic diversity is present in Belgium as it has multilingual education system. At doctorate level, students have many options of languages like Dutch, French, English. The adaptability of language makes student all set for work no matter where they are in the world. The QS World University Rankings feature nine Belgian universities, all save Katholieke Universiteit Leuven (KU Leuven) ranked within the top 500 in the world.
13. Argentina
Average tuition fee: $5,100
Argentina is a well-liked choice for international students because of its unique blend of Latin American and European cultures, as well as its $5,100 average tuition cost. The length and range of the graduate programs offered in the nation demonstrate to its well-known commitment to literature, science, and the humanities. The worldwide ranking includes thirteen Argentine universities, with University of Buenos Aires receiving the highest place (311th) among them.
12. India
Average tuition fee: $4,587
India is becoming more and more well-liked among overseas students due to its vibrant and varied learning environment and affordable average tuition of $4,587. With a 74% literacy rate, the country's diverse higher education system reflects the unique fusion of cultures, languages, and traditions for which it is known. India possesses exceptional expertise in the domains of humanities, engineering, computer technology, and medicine. India's 91 institutions are among the top 1,000, a testament to the quality of education provided.
11. Malaysia
Average tuition fee: $4,000
Malaysia is becoming a more attractive destination with an average tuition cost of roughly $4,000 for international students, and with a literacy rate of 96%. For many travelers, Malaysia's advantageous location makes it a hub for international trade and a jumping off point for travelers to explore their culture and landscapes. Malaysian institutes offers exchange programs for students all over the world, so they can gain experience of living abroad.
10. Hungary
Average tuition fee: $3,500
At number 10 on our list of 20 Cheapest Countries to Study Abroad, we have Hungary. Hungary's affordable tuition of around $3,500 makes it a great choice for international students. Hungary is a popular option for international students, with affordable tuition fees ranging from $2,000 to $5,000.
As evident by academic institutions, customs and architecture, where Eastern and western culture coexist, Hungary provide a rare opportunity for students. In order to facilitate international students, Hungary is introducing more programs in English as they are renowned for their excellent academic standards, as evident through their literacy rate of 99%.
9. Taiwan
Average tuition fee: $3,135
The literacy rate of Taiwan is 96.1% and the tuition fee costs $3,135 on average, making Taiwan an appealing destination for international students looking for innovation and tradition. Taiwan's education system ranks 203rd among the best global universities, along with being affordable. Fields including computer science, engineering, and medical in the university are unmatched. Taiwan is known for having kind people and a supportive environment for overseas students.
8. Poland
Average tuition fee: $2,920
Poland has a very amiable environment with pretty landscapes and very friendly people; on top of that, it has reasonable and inexpensive cost of living due to which students prefer it. Another favorable aspect to consider is that Poland has a higher literacy rate of 99.7%, which is the highest in Europe. Another plus point is that among the 1,000 universities ranked based on ARWU for 2021, ten were Polish universities.
7. Portugal
Average tuition fee: $2,550
Portugal is a highly scenic place based on its ancient beauty and pleasing climate, making it a great place to pursue studies. It has highly reputable universities, especially in social sciences, engineering, architecture and humanities. It is also very accessible to international students, as it offers programs in English. In the Xangai Ranking of 1,000 Universities in 2022, six were Portuguese universities.
6. Austria
Average tuition fee: $2,250
The average cost of tuition in Austria's higher education system, which blends traditional traditions with modern innovations, is $2,250. Austria is a fascinating place to pursue studies because of its breathtaking Alpine scenery and rich cultural legacy. University of Vienna is ranked 97th in the world highlighting the exceptional education system.
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Disclosure: None. 20 Cheapest Countries to Study Abroad is originally published on Insider Monkey.
