According to the global financial services company, India has the world's highest proportion of parents (88 percent) who are willing to send their children abroad for higher studies, ahead of Turkey (83 percent), Malaysia and China (82 percent each).

In comparison, Australia finds itself at the bottom, where 52 percent parents are willing to send children abroad for post-graduate studies. For Canada and the United States, the figure reads 53 percent and 59 percent, respectively.

The report singled out higher costs as one of the key barriers for Indian parents when it comes to sending children overseas for education. But they are still willing to go that extra mile. Nearly 93 percent Indian parents, who are open to the idea of an international university education, would consider paying more for it than they would do here in India.

"Parents should start planning and saving smartly for their children's education in order to ensure that the ambitions they have for them are fulfilled," HSBC India Head of Retail Banking and Wealth Management S Ramakrishnan said.

As per the survey, information technology is the most preferred sector for Indians. The proportion of parents willing to get their children into the IT sector is highest in India (18 percent), followed by 11 percent each in the UAE and Indonesia.

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