05 Dec 2019
Parents in Hong Kong on average, fork out around $131 000 to cover the cost of a child’s education from primary school through to university. The UAE comes in second ahead of Singapore and USA. – Study by HSBC
1. Hong Kong - $131 000
2. UAE - $100 000
3. Singapore - $71 000
4. USA - $ 58 000 (parents only contribute around 23%)
These rising costs are directly linked to the fact that the countries listed, apart from the US, have a large expat workforce that require english tuition for their children.
English tuition in Hong Kong is offered mostly by private schools that follow the US, British or Australian syllabus. Standards that expats are used to in education.
Very few expat packages offer education for children anymore. This means that school fees are coming out of disposable income or cutting into the amount you can save for retirement.
An education savings plan could relieve a lot of the financial pressure parents face in Hong Kong.
Chat to an Acuma adviser today about starting an education savings plan for you children.
|Lowest fees||Highest fees|
|ELCHK Lutheran Academy
$9 263 p.a
|Hong Kong Academy
$24 193 p.a
|Po Leung Kuk Choi Kai Yau School
$12 082 p.a
|Harrow International School Hong Kong
|ESF Island School
$14 179 p.a
|The Harbour School
|Island Christian Academy
$14 286 p.a.
|Stamford American School
|International College Hong Kong, Hong Lok Yuen
|Kellet School (Pok Fu Lam Preparatory)
Please note, the above is for education purposes only and does not constitute advice. You should always contact your Acuma adviser for a personal consultation.
* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.