- Parents who raise their child in the UAE and later send them to a university outside the country can expect to spend not just hundreds of thousands, but nearly a million dirhams in their lifetime, according to financial experts
- The latest analysis by Zurich showed that school costs for pre, primary and secondary education in the UAE alone can add up to AED 528,486 per child, a slight increase on 2016’s figures
- Parents who send their child to a top tier school could see the total figure rise by up to 40%, when accounting for additional costs like books, uniforms and other school supplies
- If university costs are taken into account, parents should prepare to set aside around AED 938,599 to cover all the necessary expenses from pre-school through to a university in the United Kingdom
- The average years of education in UAE is made up of two years at pre-school, six years at primary school, six years at secondary school and three years at a university
- In July 2017, HSBC released figures for the cost of education within UAE, which said that the from primary to university can add up to AED 365,025
- According to a study released by HSBC, the cost of education in UAE is the second highest in the world
- In order to cope with rising costs, a number of parents in UAE make financial sacrifices, such as cutting back on leisure activities (40%), working long hours (21%), reducing regular contributions for long-term savings or investments (20%), and taking on a part-time or second job (18%)
- Parents in Hong Kong spend the highest on children’s education, followed by UAE, Singapore, USA, Taiwan, China, Australia, Malaysia, UK, Mexico, Canada, India, Indonesia, Egypt & France
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