UK ranks amongst global powers investing the most into their education systems
Research from Ezra, one of the leading global providers of digital coaching, has revealed which global nations invest the most in their education sectors
Ezra analysed data from the World Bank on education spend as a percentage of GDP in each nation and what this investment equates to in terms of total spend, but more specifically in terms of spend per person when taking the population into account.
Norway ranks top in terms of the highest spend on education per person. The nation invests a total of £23bn a year into its education system and while this sum is lower than some other nations, it equates to an investment of £4,308 per person when taking the population into account; The highest of all nations.
In fact, Scandanavian nations account for the top four countries to see the highest investment per person in terms of education spend. Iceland spends an average of £3,702, Denmark £3,396 and Switzerland £3,037 per person.
The United States tops the table in terms of the total sum, with a huge £959.5bn invested in the education sector each year. It also ranks high when breaking this sum down based on the population, with an investment of £2,923 per person.
Sweden, Finland, Belgium and Australia also rank within the top 10.
The UK ranks 16th in the top 20 nations where educational investment is concerned. With education spend equating to 5.44% of national GDP, the UK invests £111bn into its education sector each year, equating to £1,663 for each person living within the UK.
Other nations to feature include in the top 20 include Ireland, the Netherlands, Austria, Israel, New Zealand, Macao, Germany and France.
Founder of Ezra, Nick Goldberg, commented:
“Access to a good education is the vital first step usually available to us when building our own personal and professional development. Although we don’t realise it when we’re younger it lays the foundations for us to progress later in life and can be vital to our success in the professional world.
“However, the chance to better ourselves through education doesn’t end at school or college and investment into adult education has also been an area of focus over recent years.
While these nations present some of the best investment in terms of spend per person, it’s also important to remember that the availability of a good education system doesn’t guarantee success, in the same way a lack of access doesn’t guarantee failure.
“Once provided with the raw materials it’s down to the individual to build on them and this takes hard work and dedication.”