When relocating to another country with their families, besides considering their potential salaries, as well as the cost of the living of their city of relocation, expats also have to consider the cost of education, either for themselves, or for their children - which can be quite expensive at times.
Based on ExpatFinder International School Fee Survey 2017, China leads the rankings as the most expensive country in Asia Pacific, and third in the world, while Singapore clinches the silver medal as the second most expensive country regionally, and fourth globally.
The five most expensive APAC countries for education are:
#1 ChinaMedian yearly cost of tuition fees: US$25,820
#2 SingaporeMedian yearly cost of tuition fees: US$23,198
#3 KazakhstanMedian yearly cost of tuition fees: US$22,650
#4 Hong KongMedian yearly cost of tuition fees: US$18,465
#5 VietnamMedian yearly cost of tuition fees: US$17,857
Sébastien Deschamps, CEO and co-founder of ExpatFinder.com, said: “The rising cost of international education is exacerbated by increased demand from wealthy or even middle-class families of emerging nations in Asia … who want a grounding in international curricula for their children. We have also seen significant reductions in subsidies offered by home governments and international schools, further compounding the financial outlay of expat parents who may already find fees at top-end international schools out of reach.”
What can companies doWhile comprehensive corporate relocation packages for expats are no longer the norm, companies are beginning to directly sponsor international schools instead, lowering the cost for all parents.
Some companies are even working with external providers of education to set up their own corporate schools around the world, ensuring that their employees’ children can access a world-class education, even in the most unlikely places.
“More companies should adopt a procedure where if local schooling is adequate and available, then this should be considered, instead of searching for international schools at the start. This, of course, would entail a longer time frame for the entire service, but could result in cost savings for the company and a seamless educational transition for the employee’s children,” advised Naren Damodaran, executive/senior global mobility professional.
ALSO READ: The most expensive cities for international schools
Lead photo/ Provided
Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!