HSBC’s The Value of Education: Springboard for Success Report
Commissioned by HSBC, the “Value of Education” is an global consumer research study into global education trends. It provides insights into parents’ attitudes and behavior towards their child’s education around the world.
“Springboard for Success” was the first report and represented the views of 4,592 parents in 15 countries and territories. It focused on parents’ attitudes to education, and their expectations of what education should deliver at each stage of their children’s academic career. It also explored parents’ feelings towards privately-funded and international education, and their approaches to funding these options.
According to the study, parents see education as a crucial enabler in the modern world, giving children skills that are essential in later life. Perhaps unsurprisingly, what parents view as a “good education” varies across the world, but the researchers found patterns in “about what stage of education children should learn different skills and subjects.” Parents believe “university is seen as a springboard for success” and expect a “good university education to prepare their child for a successful career,” the study concludes. The survey also found that in countries where English is not the first language, many parents see foreign language skills as the main benefit of an education abroad. Overall, however, the U.S. remains highly regarded by parents as a high-quality education destination, with 51% of parents ranking it among their top three countries for quality followed by the UK (38%) and Germany (27%).
Other key findings include:
- 89% of parents want their child to go to university
- 74% of parents would consider sending their child abroad for a better university education
- 58% of parents say that paying for a child’s education is the best investment you can make
- 51% of parents wish they had started to plan and save earlier for their child’s education
Sources: hsbc.com; ICEF Monitor