Education costs are touching the sky in the UAE with a survey revealing that school fees in the country is the second highest in the world.
An HSBC study found that the cost for sending a child to school in the UAE, from primary to university, will be around $99,378 (INR 64,00,000Approax). It is the second highest in the world, the first being Hong Kong where parents have to spend around $132,161(INR 84,00,000 Approax) as educational costs.
HSBC’s The Value of Education series is based on a survey conducted with 8,400 parents from 15 countries and territories. It also explores parents’ perceptions of digital learning and the importance of international studies in a globalised world.
“With the rise of the information economy and a challenging job market for young people, education has never been more important than it is today. Parents know this and they are willing to go to great lengths to secure the right educational opportunities for their children,” said Charlie Nunn Group, HSBC’s head of wealth management.
Here are the key findings from HSBC:
As many as 71 per cent parents started making plans for their child’s education, and 60 per cent started making funding decisions, before the little one had begun primary education.
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