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Sunday, May 9, 2021

Executive EducationStats Gate

The United States invests the most into its education systems ($1.3 trillion)

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.

The United States tops the table in terms of the total sum, with a huge $1.3 trillion invested into the education sector each year. It also ranks high when breaking this sum down based on the population, with an investment of $4,048 per person.

Norway ranks top in terms of the highest spend on education per person. The nation invests a total of $31.9 billion a year into its education system and while this sum is far higher across other nations, it equates to an investment of $5,967 for every single 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 $5,127 per person, Denmark $4,703, and Switzerland $4,206 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 $153.9bn into its education sector each year, equating to $2,304 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.”

Countries with the highest investment per person in terms of education spend

CountryEducation spend (latest available) % of GDPEstimated Population (2019)Total Education spend $Estimated education spend per person $
Norway0.07915347896$31,911,893,037 $5,967
Iceland0.0766361313$1,852,373,155 $5,127
Denmark0.07825818553$27,364,434,660 $4,703
Switzerland0.05138574832$36,069,464,046 $4,206
Luxembourg0.0357619896$2,538,154,147$4,094
United States0.062328239523$1,328,860,012,000 $4,048
Sweden0.075710285453$40,181,697,613$3,907
Finland0.06385520314$17,170,898,832 $3,110
Belgium0.064111484055$34,183,701,982 $2,977
Australia0.051225364307$71,563,584,347 $2,821
Ireland0.03514941444$13,631,119,698 $2,759
Netherlands0.051817332850$46,940,787,855 $2,708
Austria0.05368877067$23,847,316,876 $2,686
Israel0.06099053300$24,044,659,084 $2,656
New Zealand0.06284917000$13,002,720,655 $2,644
United Kingdom0.054466834405$153,962,616,460 $2,304
Macao SAR, China0.0274640445$1,475,039,578 $2,303
Germany0.049183132799$189,392,739,852 $2,278
France0.054567059887$148,039,196,268 $2,208
Hong Kong SAR, China0.03817507400$13,935,730,583$1,856

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Ryan Miller

Ryan Miller

Global Assignment Editor
Ryan Miller is the Global Assignment Editor at CEOWORLD magazine. He covers anything and everything related to CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide, whether lists or lifestyle, business or rankings. During his five-year tenure at CEOWORLD magazine, he has employed his expertise in data science across several roles. Ryan was previously responsible for data modelling and analytics, as well as secondary research, on the CEOWORLD magazine Custom Research team. He can be reached on email ryan-miller@ceoworld.biz. You can follow him on Twitter at @ceoworld.
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