With economic uncertainty around, Indians willing to spend to upskill

Indians consider education a necessary and worthwhile investment and in a situation that has turned increasingly uncertain, they are willing to spend more towards it

About two in three Indians are willing to upskill themselves and are showing interest in pursuing further education in the troubled global economic outlook, The Economic Times (ET) reported quoting a new study. This is significantly more than the global average which stands at around 55 per cent.

The trend is interesting given that Indians are cautious in their spending and primarily focus on healthcare, medicine and groceries. For Indians, education is also a necessary and worthwhile investment and in a situation that has turned increasingly uncertain, more and more Indians are willing to make investments to upskill to safeguard themselves from the technological disruptions, the report quoted findings from the Emeritus Global Workspace Skills Study 2023.

Among the Indian professionals questioned as part of the survey, 82 per cent stated that they would choose online options to pursue further education. The participants believed that upskilling would differentiate them from other candidates in the job market and facilitate greater career opportunities for them. Almost 90 per cent of the respondents said that online learning adoption will increase in the times to come, the ET report said.

CEO of Emeritus, India and APAC, Mohan Kannegal was quoted by ET as saying, “The global workforce is currently battling several challenges to stay relevant — from technological disruptions to economic uncertainties. We understand from our Indian learners that education is a top priority and interest in online learning continues to grow.”

According to the study's findings, 84 per cent of Indians agreed that pursuing further education will give them an advantage over their peers. On the other hand, 86 per cent of the respondents said that high-quality upskilling courses are effective in supporting their career-related goals.

The survey revealed that 50 per cent of Indian professionals are willing to spend more money on education for themselves, their children, or family. Consequently, Indians are looking for countries that recognise and offer educational benefits. Among the people participating in the survey, 90 per cent worked with companies that provided upskilling opportunities to their employees.