International School Fees Going Up
The prestige and the quality of service of a Bangkok International School is getting more expensive, according to a recent survey conducted by Expat Finder.com, which found a large increase in international school fees across the globe since 2017.
The survey, which had a sample size of 688 international schools located across 27 countries, discovered a notable increase of 19% in international school fees in 2018. This will, no doubt, be felt by expatriates across the world, who will now have to tighten their belts to get their kids education abroad, especially since international schools have been in demand for affluent locals across the world.
The survey listed the countries costs of international education with the most expensive being:
- China : USD33,591 per annum;
- Switzerland: USD32,453 per annum;
- Belgium: USD29,613 per annum;
- UK: USD26,627 per annum, and;
- Singapore: USD25,758
In 2018, international education costs vary wildly. A single child’s full education would either set their family back by as much as USD 1,106,883, for Switzerland’s Surval Montreux School, to as little as USD 6,542, for Thailand’s Global English School.
According to ExpatFinder.com, the issue of supply not meeting demand has long since been a problem for the international education market. As more and more companies expand into developing markets, this issue will only become more paramount to address.
Not helping matters, they say, is that how schools like Bangkok International School are seeing an influx of middle class locals who see international schools as a way to give their kids an edge in acquiring positions in prestigious Western universities and international companies. Expat Finder.com Co-Founder and CEO Sebastien Deschamps says that it’s a safe bet to expect continued increases in international school fees.
Notably, the increase in the rates of international schools in China was supported by ISC Research’s data, which showed that demand by affluent Chinese families for international education was going up, resulting in increasing fees.
On top of that, well known brands are also opening in China, with data from the ISC Research centre showing that ten independent schools that opened across the world, five of them were in China. Additionally, 20 new international schools are set to open from 2018-2019, and nine of them will also be in China.