Singapore’s education system emerged as the best in Asia with a score of 80.1 out of 100, while it ranked fifth best worldwide, according to an Economist Intelligence Unit (EIU) index.
In terms of education policy environment, the city-state also outranked every other country in the world with a score of 88.8. This partly contributed to the country’s ability to help students in preparing for future challenges when they graduate from school.
The EIU said that unorthodox teaching styles such as including robotics and coding allow students to improve their cognitive and creative skills. This trend made Singapore is the eighth best in the world based on teaching environment.
The study did not include costs in the Lion City such as A-Level economics tuition fees, yet parents have spent more than the global average for their children’s local education.
An HSBC report showed that Singaporean parents spend an average of almost US$71,000 per year for education, which is the third highest among 15 countries. Parents in Hong Kong paid the most at more than US$132,000.
New Zealand’s score of 88.9 topped the EIU index as the country with the best education system, while Japan ranked second best in Asia and seventh worldwide. The U.S. failed to make it to the top 10, as it tied with South Korea for the 12th spot on the index with a score of 71.7.
Hong Kong tallied a score of 68.5 to finish in 14th place on the list, while Taiwan and the Philippines ranked 19th and 25th with scores of 64.6 and 50.2.
The EIU index and HSBC report reflect the value of Singapore’s education system, as parents are willing to provide their children with quality education even if it requires spending a premium on fees and expenses.