Education is one of the most important components in the economy of any country in the world. Its quality significantly marks the criteria that governs the progress of a person or a society, as well as the development of an entire nation.
We currently live in a time when societies of different origins stand out as being hungry for knowledge, where a large part of the world population cares about their personal and professional training, and wishes to discover everything that refers to history, progress, projection and innovation.
Living in a country with high rates of investment is as important as education and will undoubtedly make a difference in the life of any student and in their academic training.
The OECD (Organization for Economic Cooperation and Development) is an institution that focuses on promoting policies that contribute to the economic and social well-being of the population that comprises 36 countries around the world. Here we tell you which are the four countries belonging to the OECD with the highest rates of investment in education.
The United Kingdom has been considered for years as a potential and favourite destination by students from different countries of the world.
The British education system is one of the most outstanding among the international academic community and is characterized by the order of the structured administrative division of the country (Scotland, England, Northern Ireland and Wales). Although the educational system of each administrative division is governed by some parameters in common, they also have some differences.
According to the document ‘Education at a Glance 2017: OECD Indicators', a report published by OCED, the United Kingdom was catalogued in 2014 as one of the countries with the highest index of investment in educational institutions. The report records that Great Britain designated about 6.6% of the national wealth (GDP) to institutions of primary to tertiary education.
The study manifested that "the proportion of spending on educational institutions is strongly influenced by the demographic composition of countries, since those with relatively high fertility rates tend to spend a greater proportion of their wealth in primary and lower secondary education. "
The United Kingdom has also been characterized by its multi-million investments in children's education and promoting social mobility in the country. According to a document published by the official website of the British government in August of 2018. The state is advancing an initiative focused on supporting both early education and child development. In addition, it revealed the existence of a fund of £30 million, intended for investment in a social mobility action plan in order to create different places of day-care, which will guarantee children the possibility of accessing a high-quality early school.
The investment of a country in its educational institutions aims to promote the development of different important elements in their society. Promote the personal and social development of multiple communities, directly contributing to improve the productivity of its population and boost the economic growth of the country.
In short, if you are thinking about starting a study abroad process, you could consider Great Britain among your possible destinations. Currently, different countries around the world have modified their perception of the concept of "spending on education", replacing it with the concept of "educational investment", which gives the investing country a promising future in the face of its development standards, innovation, and solid financial structure.
According to data provided by the OECD for 2014, Denmark recorded an expenditure of 6.5% of its GDP in the education sector. The Danish country has stood out for having one of the best educational systems due to the heavy investment and the different programs that drive the constant development throughout the academic training.
For this European nation, investing in education has become a powerhouse of social, economic and personal development. Investment, productivity and competition within the nation are promoted. For the government, it is essential to boost investment in primary and secondary education, ensuring excellent results in those who decide to continue their academic process in the university, bearing in mind that studying is mandatory between 6 and 17 years.
Although most education is subsidised by the state, there are institutions of a private nature but are less crowded due to the costs in each program. According to the document presented by the OECD, Denmark spends around 4.5% of its GDP on primary and secondary education. Considered the most important stage for young people in terms of cognitive processes. This investment is undoubtedly one of the highest in the region.
The success in the administration of education in the Scandinavian country is due to the Ministry of Education and the Ministry of Science, Technology and Innovation, responsible for designing and executing the study plans with the participation of teachers and students, who actively work in thinking about the conditions of training and the quality of it.
The monthly subsidy to students by the state is a positive policy that has generated controversy in some sectors of the government, who allude that some students extend their study periods to continue receiving state funding. Despite the criticism, the positions in this matter have been iron because of the success and reputation that education enjoys in this part of the world.
This Nordic country is another of the countries that allocate a greater proportion of its GDP to investment in the education sector, Norway in 2014 had a 6.2% expenditure in primary to tertiary education.
When it comes to investment in education, the monetary funds can come from different public or private entities in the country. In this case, Norway is characterized by having higher public spending on educational institutions than spending corresponding to the private sector. This shows the high level of commitment of the Norwegian government with socio-economic mainstay as important as education.
According to indicator B5 'How much do tertiary education students pay and what public aid do they receive?' From the report given by the OECD. Norway was highlighted as a country in which around 75% of students obtained greater benefit from public loans and scholarships or grants during the years 2015 to 2016.
The study records that in nations such as Norway 'the fees in public institutions are free and public aid covers the costs of accommodation and meals'. On the contrary, private institutions have a standard annual academic fees of approximately USD 5,100. This regulation in the educational model of the Norwegian government benefits national and international students.
The Viking country stands out for being a nation with high equity regarding access to education. During the academic process of each student, the educational institutions are characterized by having a strong link and constant communication between teachers, directors and students.
Norwegian education promotes different academic and sociocultural aspects among them: respect for human dignity, cultural diversity, intellectual freedom, equality and equity. Finally, it is characterized by training professionals under a high educational quality with critical thinking skills.
In the global education outlook, South Korea is one of the most representative countries in terms of the level of education and investment made by the state in all academic training cycles. According to reports provided by the Organization for Economic Cooperation and Development (OECD), the Asian country invests 6.3% of its GDP in education, standing out above other powers of the continent.
The technological advances of the country have been great allies in the development and execution of the plans that the government has to promote and stimulate education from early stages. So much so that the Asian country was the first territory in the world to bring broadband internet to the primary and secondary schools of the nation.
It should be noted that unlike other countries on the list, the participation of private institutions in Korean education exceeds 30% of the academic offer, according to data provided in the study carried out by the OECD. However, the state has been progressively increasing since 2005 the budget allocated to primary and secondary public education, subsidizing and privileging the first stages of cognitive training.
In higher education the state investment is not so strong with respect to the first stages of academic training. In South Korea, there are about 250 university institutions where most are private. Despite this, the state maintains and promotes incentives for the best qualified students throughout their preparation and secondary education, allowing access to existing programs in the private sector.
Broadly speaking, the public spending of the Korean government on education has taken great steps not to be left behind with its peers in the Asian continent. The government's economic and technological effort to improve the quality and performance of students in the first years of intellectual formation is evident. Despite the great participation of the private sector in the university institutions of the country, access is not hindered by the offer and variety in curricular programs.
Indeed, the educational model in the Asian country is one of the most interesting in the region for local and international students, who despite having the language barrier, can study in English and have state support to study Korean.
Also, the government shows that among its priorities, investment in early stages of training is a mainstay of social and cultural development allowing the country to progress in different sectors. Despite being an exotic destination, this nation can be an interesting option if your dream is to travel abroad and know completely different environments than you have imagined.
Education, a way to transform societies
Currently, education plays a fundamental role in the progress of the social collective in a nation. This mainstay unquestionably has the power to transform the thoughts, behaviours and ways of coexisting between different societies.
In a time of changes and constant evolution, learning must be continuous and necessary. In this way we can prepare ourselves to face different social, economic, environmental, technological and other challenges.
While deciding to study in any country can offer us great opportunities in the labour world, as well as economic stability and financial freedom. Having access to a high-quality education could change your life completely in an unpaid sense. Learning new things provides us with mental, intellectual and emotional richness.
Studying what you are passionate about can open the doors to a world of a myriad knowledge. You can become a patient, objective person, with the ability to analyse and interpret different situations during your personal and professional life.
If you are thinking of starting a study process in a foreign country, do not forget that there are nations that prioritize education as a factor of social development through a strong economic investment. Studying in any of the aforementioned nations offers you a large number of alternatives and high-quality academic programs.
When it comes to achieving a goal of studies abroad, we recommend you to analyse all your alternatives deeply, in this way you can study the cost-benefit factors of studying abroad in relation to your expectations and needs.
Unquestionably, considering academic destinations such as the United Kingdom, Denmark, Norway or South Korea can give you many points in favour. The education system of these countries shows that the economic factor should not be an obstacle to fulfil your dreams.
Do you already know which country you want to study in?