In this article, we will talk about 12 Asian countries with the best education system. If you wish to skip our detailed analysis, you can go directly to the 5 Asian Countries With The Best Education System.
Asia is facing massive problems regarding the provision of quality education. The challenges are especially evident in the South Asian region. According to UNICEF, almost 50% of children under 10 cannot read and write a simple sentence. Furthermore, 12.5 million children at the primary level and 16.5 million at the lower secondary level are out of school. Nearly 30% of the youth in South Asia do not have any form of education, training, or employment. The provision of quality education, therefore, is a mammoth task in this region.
The global education market overall is growing. According to research by Morgan Stanley, the global education market will increase in value from $6 trillion in 2022 to $8 trillion in 2030. The high inflation rates, however, will diminish the overall share of education in the global GDP from 5.9% in 2022 to 5.3% in 2030. You can also check out: 20 Countries with the Best Education.
Despite major challenges, global education is on the verge of major transformation due to Edtech and other tech innovations in education. The Edtech segment alone has been forecasted to experience $250 billion in spending in 2022 to $620 billion in 2030. The pandemic catalyzed the use of technology in education. The global lockdown familiarized students across the globe with online learning.
Asia has a huge market for online learning. According to a report by Allied Market Research, the Asian e-learning market was valued at $38.26 billion in 2020. The market has been estimated to grow to $162.12 billion by 2030, at a compound annual growth rate (CAGR) of 15.7%. Online learning platforms enable people to learn at their own pace and the courses they choose. It also poses a great opportunity to tackle some of the challenges in education that the continent is facing.
Students returning to normal classrooms have also expressed their preference for online classes. The greater flexibility of online classes makes them suitable for students balancing education with work. According to an article by McKinsey, 65% of the students have expressed that they want some elements of their education to remain virtual post-pandemic. A significant correlation between online learning and higher satisfaction levels and growth has also been noted.
Educational Evolution: AI's Impact on Online Learning
In a dynamic world, the best approach is to evolve with the changing technologies. The rise of generative AI software severely impacted one of the key players in the online learning space, Chegg Inc. (NYSE:CHGG). The impact was reflected in the May earnings report when the company reported a huge decline in its revenue. On October 4, the company announced its new stance of embracing and incorporating generative AI into its products. One of the main products mentioned is a personalized learning assistant that can explain concepts to students using real-time examples. The AI tools can also extract useful information from the conversation and turn it into flashcards.
Other learning platforms are also incorporating AI into their products and services. Khan Academy has launched Khanmigo, an AI assistant. The students can use this generative AI chatbot to learn new things and answer their questions. Teachers can also use Khanmigo as an AI assistant, helping them create lesson plans. Similarly, Quizlet, an online learning and testing platform, has also launched Q-Chat. Q-Chat is a generative AI chatbot that can answer students' questions and also quiz them.
The online learning space is constantly changing, marked by the frequent launch of new platforms. Ambow Education Holding Ltd. (NYSE:AMBO) is an American education company. In July, the company launched HybriU AI digital education solution. The AI-driven platform has various features, including real-time translation ability and simultaneous content creation. The platforms can be used either through box-top sets or subscriptions. You can also check out: 15 Best AI Tools for Education in 2023.
Coursera Inc. (NYSE:COUR) is one of the most noteworthy companies facilitating online learning. Initially started by two Stanford professors, the online platform now has more than 113 million students. On October 26, Coursera, Inc. (NYSE:COUR) reported earnings for the fiscal third quarter of 2023. The company's revenue for the quarter grew by 21.37% and amounted to $165.54 million, ahead of market consensus by $6.43 million. As of November 15, Coursera Inc. (NYSE:COUR) has surged nearly 64.54% over the past six months. Here are some comments from the company's Q3 2023 earnings call:
"We grew revenue 21% over the prior year, driven by 27% growth in our Consumer segment. We welcome 6.5 million new learners to our platform, our highest third quarter since the pandemic tailwinds of 2020. And once again, we are raising our outlook on revenue and adjusted EBITDA as our business model scales. We are delivering these results against the backdrop of a dynamic macro environment, which has reinforced my confidence in our vision for the future of higher education, the strategic assets that differentiate our ecosystem with quality, trust, and world-class branded credentials, and the global need for a platform like Coursera."
In the constantly evolving world of technology and education, some countries are investing heavily to improve the quality of their education system. Despite facing challenges in education, some Asian countries have some of the best universities in the world. We have made a list of Asian countries with the best education system.
12 Asian Countries With The Best Education System
Our Methodology
To make our list of Asian countries with the best education system, we initially looked at the government expenditure on education as a percentage of GDP. The rationale for choosing this metric was that if a government spends a larger chunk of GDP on education, it will have a better education system. We have sourced our data directly from UNESCO. The latest data available for government expenditure on education as a percentage of GDP is 2021. We also included the number of high-ranked universities based on QS World University Rankings 2024. Top-ranked universities have a plausible correlation with that country's education quality.
We have initially sorted our list based on the government expenditure and then by the number of high-ranked universities. The list is in ascending order, with the country with the best education system mentioned at the end.
An important note: Türkiye is part of both Europe and Asia but for our article, we have listed it among Asian countries.
12 Asian Countries With The Best Education System
12. Bangladesh
Government Expenditure on Education as a Percentage of GDP 2021: 1.83%
Number of Universities in the QS World Rankings 2024: 15
Bangladesh comparatively has one of the best education systems in Asia. The country has 15 universities ranked in the top 1500 universities in the world. Noteworthy names include the University of Dhaka, Bangladesh University of Engineering and Technology, and North South University. In 2021, the government expenditure on education accounted for 1.83% of the GDP.
11. Türkiye
Government Expenditure on Education as a Percentage of GDP 2021: 2.85%
Number of Universities in the QS World Rankings 2024: 25
Türkiye has one of the best education systems, with 25 high-ranking universities. Noteworthy institutes include Middle East Technical University, Istanbul Technical University, and Koç University. The government spent 2.85% of the total GDP on education in 2021.
Chegg, Inc. (NYSE:CHGG), Ambow Education Holding Ltd. (NYSE:AMBO), and Coursera Inc. (NYSE:COUR) have all started incorporating AI into their products to keep up with consumer demands.
10. Thailand
Government Expenditure on Education as a Percentage of GDP 2021: 2.99%
Number of Universities in the QS World Rankings 2024: 13
Thailand is a popular tourist destination. The country also has 13 high-ranking universities. Chulalongkorn University, Mahidol University, and Chiang Mai University are some of the most significant names in education. The government allocated 2.99% of the entire GDP to education in 2021.
9. Indonesia
Government Expenditure on Education as a Percentage of GDP 2021: 3.05%
Number of Universities in the QS World Rankings 2024: 26
Indonesia is home to some of the best higher education institutes in Asia. According to the QS ranking, Universitas Indonesia, Gadjah Mada University, and Bandung Institute of Technology (ITB) are among the highest-ranked universities. The government expenditure on education in 2021 comprised 3.05% of the GDP.
8. Jordan
Government Expenditure on Education as a Percentage of GDP 2021: 3.22%
Number of Universities in the QS World Rankings 2024: 9
Jordan spent almost 3.22% of its GDP on education in 2021. The country has many top-ranked universities, including the University of Jordan, Jordan University of Science & Technology, and Al-Ahliyya Amman University.
7. China
Government Expenditure on Education as a Percentage of GDP 2021: 3.3%
Number of Universities in the QS World Rankings 2024: 71
China is one of the Asian countries with the best education system. The country is home to 71 high-ranked universities. Peking University, Tsinghua University, and Zhejiang University are the most prominent names in the country. In 2021, the government expenditure on education accounted for 3.3% of the GDP.
6. Japan
Government Expenditure on Education as a Percentage of GDP 2021: 3.32%
Number of Universities in the QS World Rankings 2024: 50
Japan is also among the Asian countries with the best education system. The University of Tokyo, Kyoto University, and Osaka University are among the best universities in the world. The country allocated 3.32% of the GDP to education in 2021.
Chegg, Inc. (NYSE:CHGG), Ambow Education Holding Ltd. (NYSE:AMBO), and Coursera Inc. (NYSE:COUR) are some of the biggest companies in the education and training market.
Click to continue reading and see the 5 Asian Countries With The Best Education System.
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Disclosure: None. 12 Asian Countries With The Best Education System is originally published on Insider Monkey.
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