Short-term study abroad programs have been increasingly emphasized in expanding university curricula since the beginning of the 21st Century. This chapter aims to understand students' perceptions of short-term study abroad programs in the context of Hong Kong Higher Education (HE). Its objectives are to examine students' perceived benefits, concerns and the issues facing them when deciding on their participation in these programs. Using quantitative and qualitative methods, a case study was conducted in the eight universities of Hong Kong. Results show that the students strongly believed that the greatest benefits of taking part in these programs included enhancing their personal growth and intercultural development. The significance of this chapter is to contribute new knowledge to the understanding of students' perceptions and values of outbound short-term study abroad in an Asian/Chinese context.[Copyright © 2016, IGI Global.]