This study quantified Erasmus students’ motivations for studying abroad. Surveys were completed by 120 Erasmus students at the Universitat Politècnica de València (UPV) and their motivations for studying abroad were analysed via factor analysis. A two-step cluster analysis was used to segment students’ behaviour based on their motivations. Four factors were obtained: individual development, destination choice facilitators, academic aspects and the destination’s strong points. Behaviour was not uniform, and two different segments were found. In the first, which we refer to as “without perceived motivations”, no motivation was positively rated, while in the second, “with perceived motivations”, academics were a key motivating factor. Universities should consider working with the tourism sector to offer activities related to local culture. They could also organise classes outside of school hours to help Erasmus students learn Spanish.