Delhi has emerged as the world’s most affordable city for international students, according to a new report jointly released by Knight Frank, Deloitte India and QS. The findings place the national capital at the top of the QS Best Student Cities 2026 affordability ranking, ahead of major global education hubs. Mumbai and Bengaluru also feature on the list, ranking 11th and 15th respectively.

The report, titled India’s 155 Million Student Mandate, evaluates 150 cities worldwide across six equally weighted parameters — affordability, employer activity, university rankings, city desirability, student voice and student mix. Among these, affordability has been identified as India’s strongest competitive advantage.

According to the report, tuition fees, cost of living and overall purchasing power in Indian cities compare very favourably with traditional study destinations in the United Kingdom, the United States, Europe and Australia. This affordability significantly lowers the total cost of education for students and parents, reduces reliance on long-term student debt and improves return on investment due to better employability outcomes.

The study notes that global universities are increasingly viewing India not only as a key source of students but also as a long-term destination for establishing offshore campuses. With nearly 155 million people in the 18–23 age group, India has the world’s largest youth population in higher education age.

Knight Frank India said the country is transitioning from a largely outbound student market to a strategically important geography for global higher education expansion, supported by policy reforms, demographic strength and improving urban infrastructure.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, said that India’s higher education opportunity must be approached through a city-focused and real estate-led strategy. He added that universities adopting a phased, city-centric approach would be best positioned to create a lasting academic presence in the country.