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
|Country||Education spend (latest available) % of GDP||Estimated Population (2019)||Total Education spend $||Estimated education spend per person $|
|Macao SAR, China||0.0274||640445||$1,475,039,578||$2,303|
|Hong Kong SAR, China||0.0381||7507400||$13,935,730,583||$1,856|