Asia Pacific continues to be a hotspot for expatriate assignments and this has had an impact on schooling costs in China, Singapore, Hong Kong and South Korea.
Last year saw education costs increase for several reasons, one of which is the growing interest of wealthier locals in international schooling. Which can also be attributed to the ever-increasing expansion of upper and middle-class families that are emerging across the region. International schools are expanding to answer the demand and governments such as South Korea, Hong Kong and Singapore which are creating strict policies to limit local access to international education systems in order to temporary ease the situation.
So far this year, we are seeing a staggering 20 per cent increase in fees. Companies will need to watch these escalating costs closely and review whether the initial agreed upon educational support for their international assignees is still meeting their needs.
The latest annual survey of international school fees by ExpatFinder.com has been published, revealing a large hike in school fees since 2017.The survey of 688 international schools across 27 countries revealed a staggering 19 per cent rise in international school fees in 2018 which means that more expatriates will be feeling the pinch of providing for their children abroad, particularly as demand for international school places by affluent locals steadily rises. In 2018 the total cost of a single child’s full international education varies between US$1,106,883 for Surval Montreux School in Switzerland and just US$6,542 for Global English School in Nonthaburi, Thailand.