the logo

The best-value countries to study abroad 

Germany is the best-value country for international students, according to new analysis 

    James Watkins

    THE writer
    July 10 2023
    hand putting coins in a jar labelled education, surrounded by books

    Share

    Germany is the best-value study destination, according to analysis by Moneytransfers.co.uk. 

    For the recent research, the money transfer comparison website looked at nine factors to determine which countries were the best value for money for international students. These factors were:

    • Tuition fees
    • Food prices
    • Healthcare/insurance cost
    • Pharmacy cost
    • Public transport cost
    • Accommodation cost
    • Gym membership cost
    • Employment prospects
    • Cost of receiving money

    The study also factored in the quality of the education, by looking at where each country’s institutions ranked in global university rankings. The 20 countries on this list were taken from this list of the best countries to study abroad.

    Germany topped the list because of its free tuition for undergraduates and low-cost tuition for postgraduate students. It is also home to many high-ranking universities, with 22 German universities featured in THE’s World University Rankings 2023

    Mexico, Thailand, France and the Netherlands make up the rest of the top five, because of their low tuition fees, lower cost of living and low rent prices. France and the Netherlands, both with a number of high-ranking universities, are popular with international students. Many of their courses are also taught in English. 

    Some of the most popular countries for international students, such as the UK, US, Canada and Australia, found themselves towards the bottom of the table, because of their high tuition fees, living costs and healthcare. 

    The average monthly rent in the UK, US and Australia was more than $1,000 (all costs were converted to US dollars for analysis) in contrast to the monthly rent in other popular countries such as Germany ($800), France ($717) and Italy ($629). 

    Health insurance is also an important factor for international students to consider. Switzerland has the most expensive medical insurance, costing $350 per month, while Italy offers the cheapest insurance at $14 per month. 


    The cost of studying at a university in the United States
    The cost of studying at a university in Australia
    The cost of studying at a university in the Netherlands


    Singapore was found to be the most expensive country for students, with average monthly costs of $5,203 primarily because of high rent and tuition fees.

    Jonathan Merry, CEO of MoneyTransfers.com, stated how essential it is for international students to take finances into consideration when seeking higher education internationally. 

    The full list is shown below and you can read the full report here.    

     
    Weighted Ranking
    Country
     
    Monthly Tuition
     
    Basic basket price
     
    Monthly health insurance
     
    Cost of basic medicines
     
    Price on monthly public transport pass
     
    Monthly rent price (one bedroom Apartment)
     
    Monthly gym membership
     
    Average remittance fee 
     
    Unemployment with advanced education
     
    Total monthly cost
    1 Germany $42 $84 $120 $25 $76 $800 $36 $3 2.42% $1,186
    2 Mexico $63 $46 $25 $24 $20 $440 $33 $3 4.72% $653
    3 Thailand $154 $77 $167 $9 $35 $307 $46 $4 2.53% $798
    4 France $281 $68 $25 $17 $70 $717 $36 $3 5.30% $1,216
    5 Netherlands $193 $76 $142 $29 $92 $1,173 $32 $5 2.93% $1,742
    6 Japan $500 $77 $15 $24 $66 $557 $60 $9 2.47% $1,308
    7 Italy $204 $67 $14 $25 $38 $629 $51 $6 5.05% $1,034
    8 Ireland $1,083 $54 $38 $29 $119 $1,444 $49 $3 4.24% $2,818
    9 Brazil $83 $47 $50 $15 $45 $264 $23 $10 7.52% $537
    10 Spain $163 $56 $54 $15 $42 $725 $41 $3 9.21% $1,099
    11 Turkey $42 $43 $18 $3 $30 $346 $26 $6 12.45% $515
    12 Greece $125 $53 $25 $24 $32 $413 $41 $6 10.94% $720
    13 New Zealand $1,558 $64 $108 $26 $110 $1,056 $42 $6 2.93% $2,970
    14 Australia $1,867 $66 $67 $18 $108 $1,348 $50 $3 3.53% $3,526
    15 Egypt $208 $33 $17 $2 $11 $109 $17 $6 15.28% $403
    16 United Kingdom $2,317 $52 $49 $21 $83 $1,001 $39 $3 2.48% $3,566
    17 Switzerland $117 $122 $350 $46 $93 $1,642 $88 $6 3.46% $2,464
    18 USA $2,191 $70 $83 $21 $70 $1,535 $42 $2 3.58% $4,014
    19 Canada $2,225 $65 $47 $24 $74 $1,122 $41 $3 5.92% $3,601
    20 Singapore $1,733 $67 $125 $23 $95 $3,035 $117 $7 3.38% $5,203

    You may also like

    The University of Oxford

    Best universities in the UK 2024 - University Rankings

    The University of Oxford is top in a list of the best universities in the UK 2024, which includes institutions in England, Wales, Scotland and Northern Ireland

    September 27 2023
    sticky sign up

    Register free and enjoy extra benefits