Tertiary education in Bangladesh entered the private sector in the early 1990s. Fifty-four private universities are currently operating in the country. This paper examines the variables which determine students’ choice of private universities for their tertiary studies in Bangladesh. The study involved 1000 respondents from eleven private universities. The sample allows for an empirical analysis of the variables that potentially influence students in choosing a particular private university. Factor analysis was used to group the variables into several dimensions or factors. The results show that institutional and economic factors such as quality education, job oriented subjects, physical environment and tuition fees were significant in influencing the choice variables, while technical factors such as advertisements, logistics and peer group influences were found to be less influential. Australian universities should look at institutional and economic factors in promoting their education overseas and attracting students from developing countries, especially from the South Asian countries.