1. Child education spend: At Rs 12 lakh, India ranks 12th on HSBC global ist

Child education spend: At Rs 12 lakh, India ranks 12th on HSBC global ist

Child education spend in India: The Hongkong and Shanghai Banking Corporation (HSBC) recently conducted a study to find out the average amount that is paid by parents on their child's education during their lifetime.

By: | New Delhi | Published: July 3, 2017 5:57 PM
Child education, Child education spend, Child education spend in India, Child education expenditure, HSBC global list, India ranks 12th, household expenditure, household expenditure in india, education news Picture for representation only. (Reuters)

Child education spend in India: The Hongkong and Shanghai Banking Corporation (HSBC) recently conducted a study to find out the average amount that is paid by parents on their child’s education during their lifetime. The data of the study was recently released by HSBC under its The Value of Education series this month. The results of this study is based on the survey that was conducted on more than 8,400 parents in 15 countries and territories. It was revealed that, a major chunk of a household’s expenditure goes into the education of the children. Charlie Nunn, HSBC’s group head of wealth management, while talking about the survey said, “In today’s highly competitive global job market, education for young people has never been more important. Parents across the world appreciate this and are willing to invest time and money to help their children get the best start in life,” as quoted in a gulfnews.com report.

The numbers revealed in the HSBC revealed that parents in the UAE spend approximately USD 99,378 on their child’s education during their lifetime, whereas the average education expenditure on a child in Hong Kong cost about USD 132,161. As far as India is concerned, on average parents here spend USD 18,909 (approximately Rs 12,26,815) on their child’s education.

Families across the globe spend approximately USD 44,221 in nurturing the minds of the world’s future. Countries like Taiwan, USA, Singapore, UAE and Hong Kong beat the global average when it comes to the money spend in schools there. Here are some numbers that might interest you, take a look-

Average parental spend on their child’s education (USD)

Global Average: 44,221

1. Hong Kong: 132,161

2. UAE: 99,378

3. Singapore: 70,939

4. USA: 58,464

5. Taiwan: 56,424

6. China: 42,892

7. Australia: 36,402

8. Malaysia: 25,479

9. UK: 24,862

10. Mexico: 22,812

11. Canada: 22,602

12. India: 18,909

13. Indonesia: 18,422

14. Egypt: 16,863

15. France: 16,708

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