A new report by Student. com - a marketplace for international student accommodations - shows Beijing and Shanghai remain the top source cities for Chinese students heading overseas to study.
They mainly pick the US, UK and Australia in terms of destination, but are increasingly eyeing other countries such as Germany and France. That comes as the number of Chinese overseas students is hitting fresh records, and they don't seem to be shying away from sky rocketing accommodation prices.
Finding a bed to sleep is one thing, being able to afford one is yet another. Before we get to China, let's take a look at the global picture. The Student.com 2016 Overseas Student Accommodation Report covers student accommodation prices in the UK, the U.S. and Australia, and is based on the average listed price for properties on the student.com website.
The most expensive destination city globally for students in terms of weekly rental rates is New York City at 526 US dollars per week.
In the UK, London takes the top spot for the most expensive destination city at 330 US dollars per week. Compared to the U.S, room prices in the UK increased sharply over the past year. On average, weekly accommodation rates in the UK saw a 5 to 10 percent increase compared to last year.
Sydney looks relatively cheap compared to the others, at 268 US dollars per week. Let's now take a look at the Chinese students and where they're heading to for their overseas adventures.
Beijing and Shanghai - those are the top source cities with the most Chinese international students to the UK, the U.S. and Australia in 2016. That's according to Student.com data. So where do they go?
More than half of the Chinese students in the UK, the US, and Australia are between the ages of 18 and 22.
Accommodations are usually the 2nd largest expense for an international student after tuition fees. The report also shows that most Chinese students prefer to live in shared accommodations with fellow students.
Liu Hanyu is about to study in Switzerland for at least one term – not a cheap pick in terms of living costs.
There were more than half a million Chinese students studying abroad in 2015, an increase of almost 14% compared to the previous year.
Since the introduction of China's reform and opening-up policy in 1978, more than 4 million Chinese students have studied abroad and more than 2.2 million have decided to return to China. In recent years between 70 and 80% of outbound students return to China after their studies abroad.
"They come back because of the immigration policies and the culture in their host countries, it's difficult for them to work there. India is the second largest source country for overseas students. For Indian students it's easier to live abroad because their mother language is English," said Sang Peng, president of Beijing Overseas Study Service Assoc.
Data also suggests that Chinese students abroad are being drawn home in greater numbers, due in part to the strong Chinese economy. So will it be difficult to go back to China?
Wherever the Chinese students decide to go and however long they stay, studying abroad remains the experience of a lifetime.
Sadly, it looks more and more like studying overseas is not about what you have in your brain, but what you have in your pockets.
The most interesting fact from that report in my opinion is actually that the big majority of Chinese students decides to return home after their graduations.
Unlike countries like India for example, where there is a big problem of brain drain especially among Indian science and engineering students.
One way to reverse that flow and lure students back again is to create a flourishing innovation environment and better job market opportunities at home.
