Indians give high priority to education. In fact, the parents go to any extent of taking bank loans to provide quality education to their children. They have a single aim in their life...that is to see their children financially well off than them.
This thinking has driven thousands of families to send their kids to developed nations like USA, UK, Australia and several other European countries that offer best education in graduation and post graduation. Because of this, Overseas Education Business has become of the most profitable businesses in the country.
Not just Indians but the students from several Asian countries follow the same. Well , they are doing it in search of better career prospects & high standard of living. This thinking has been drastically changed with the Covid-19 outbreak.
The so called developed and rich countries with the best health care are taking a deathblow from coronavirus.
The countries that were once considered to be the safest are not giving an impression that they are not safe anymore. India which is referred to as the third world nation, is effectively handling the crisis much better than the developed countries.
All these devlopments are bringing a huge change in the thinking of the parents. Manynof them are saying a firm NO to send their children to overseas for eduction,
"Any parent loves to send their children abroad for better prospects. But what is the use when they lose jobs due to virus outbreak or recessions?" expresses a mother.
"I am hearing the woes of many people those lost their parents in India during this lockdown. Money is not everything. Quality of life is nothing but living in own land with whatever we have", says a doting father.
The change in this thinking process is going to be a huge blow to the Overseas Education Business in India. We may assume that it is all temporary, but that "temporary" can be for years together.
Apart from this, the restrictions on international travel and the imminent global economic slowdown are also posing a huge threat to the Overseas Education Business.
The experts in the Overseas Education Business are saying that, the business will not be the same after Covid-19.
