The study, released on Wednesday by Study.EU, argued that Germany is the best option for international students studying in Europe, followed by the UK, Netherlands, France and Sweden.
It ranked 30 European countries according to three categories: education, costs, and life and career. Sweden was awarded a total score of 60.6 out of 100, compared to Germany's impressive 83.2.
Sweden performed well in the education category, scoring another fifth place. In the life and career category it came in eighth, but fared less well in the cost category, not even making the top-ten.
Study.EU investigated the general cost of living as well as tuition fees at universities. While Sweden does not have tuition fees for its own students and those from EU/EEA countries studying at the bachelor's or master's level, master's fees for other students are roughly 129,000 kronor a year.
The ranking also looked at quality of life, how likely it is that you will get a job after graduating, the country's proficiency in English, international university rankings as well as the availability in courses taught in English. Two of Sweden's universities made the top-100 in one of the most recent university rankings.
Study.EU said that continental Europe was becoming more attractive to international students.
“Two significant political developments will influence global higher education for years to come. First, there is the Trump presidency, driving international students away from the US to other countries – in many cases, Europe,” said Gerrit Blöss, CEO of Study.EU.
“And then there is the upcoming Brexit, of which neither the timeline nor the consequences are foreseeable. Many prospective students expect deteriorating conditions in the UK, and they are starting to look for study-abroad experiences elsewhere in Europe.”