A Study to analyse the socio-economic impact of Nepalese student migration in overseas for Higher Studies

International student migration is dynamically altering the overall landscape of global higher education. Based on key informants and in-depth interviews with Nepalese students, academia and professionals, this research-qualitative case study reveals the impact of students migrated from small, least developed country to advanced economy. Nepalese students are overwhelmingly motivated for overseas destinations because of which hosts of reasons. Both, the number of students pursuing higher education as well as the destination countries offering these services are on the rise. Australia has always been seen in the top-three destination countries catering international higher education for Nepalese students. A range of push-pull factors interplays in this critical decision at the individual and family levels. In the most conventional form, international higher education goals and subsequent job opportunities are some of the major economic drivers for them. The impact of student migration is also overwhelming. A high level of opportunity costs is associated with this endeavour. The economy is experiencing significant losses of human resources and fiscal capital. Brain drain is an increasing trend due to the exodus of student going for higher studies in the overseas and high rate of migration of Nepalese academia and skilled workers for international jobs. Unfortunately, they seemed quite reluctant to return back in country of origin. Nepal is traversing through the stages of growing inefficiency, massive corruption and political impasses that has jeopardised the rule of law and socio economic development. The long-run political instability has masked overall development signifying a persistent lack of determined leadership with strong political commitment who could fulfil aspirations of common people and create enabling environment to foster the economic growth. Remittance is the result of youth migration. It is mostly sent by labour migrants. Once the student and academic immigrate to a foreign country, there are ample evidences to suggest that these migrant groups also remit small money to the home. The student migration is accelerating day by day. In order to address this distressing scenario, the state should be strategic to formulate relevant policy to implement with both the short-term and long-term goals by ensuring peace and stability in the country so that situation could revitalise higher education and employment sectors with a view to enable a viable environment for the national human resources development and growing productive sectors sustainably. The short-term policy could range from recognising those student returnees who have already demonstrated a high level of skills and entrepreneurships back home to coordinating with Nepalese Diaspora and transnational networks by maintaining an effective database of outgoing students. The long-term policy should gear towards achieving socio-economic goals at the micro and macro levels. For this, the hydro power, tourism, and agro-forestry sectors, rich in bio-diversities, have imminent development potentialities for undergoing a massive socio-economic transformation. Besides, these sectors could absorb both the technical and physical manpower on an unlimited proportion and low economy stage could transform entirely a new hope and direction.