Families around the world to pay up to 57% more on school supplies this year – WorldRemit Data

Share this information:

WORLDREMIT today announced the results of its 2022 Cost of School study that showed how the changing macroeconomic environment has affected the true cost of education across 21 markets globally.

As the back-to-school season started this month, the study, first launched in August 2021, compares the average cost of basic educational needs with average annual incomes and fertility rates to determine the season’s financial impact on families around the world.

Year-over-year findings

Of the 10 countries examined in both 2021 and 2022, four are considered developed countries: United Kingdom, United States, Canada, and Australia. The 2022 findings reveal the average household income decreased by 4 percent while fertility rates remained steady, and the cost of basic school supplies increased by more than 7 percent on average.

Of the remaining six countries that were indexed, such as Nigeria, Philippines, Mexico, India, Tanzania and Uganda, household income decreased by an average of 4 percent and fertility rates remained steady. Meanwhile, the cost of school supplies ranged from a 57-percent increase year-over-year in India to a 40-percent decrease in the Philippines, while the average increase across the other countries hovered around 5 percent.

Across all 10 countries observed in both the 2021 and 2022 studies, the dramatic increase of specific school items illustrates how inflation is hitting home on schooling costs and impacting families across the world, depending on how many items they needed to buy for this upcoming year:

  • In the UK, the cost of a backpack more than doubled the amount, from $8.98 in 2021 to $19.03 USD in 2022
  • In Australia, the cost of a jumper increased by 266 percent, from $9.86 to $26.28 USD
  • In the Philippines, where families can expect to save overall, the cost of a single pencil increased by 33 percent year-over-year
  • In Mexico, families can expect to spend 10 percent more for school supplies this year, with significant increases observed in the cost of a water bottle (+264 percent), gym shoes (+200 percent) and pencil sharpeners (+29 percent)
  • In Nigeria, families can expect to pay 9 percent more in school supplies, with the item boasting the greatest percentage increase being a 30cm ruler (+30 percent)

2022 study: findings of the 11 additional countries observed

To advance this annual study, WorldRemit observed eleven new countries, looking at the standard school supply costs. Of these, Zimbabwe showed the highest costs relative to average family size and monthly income at nearly 700 percent of the average family household income. Other countries, including Morocco, Cameroon, Ghana, Kenya and Guatemala all can expect to pay more than 100 percent of their monthly household income on school supplies this season.

  • In Guatemala, the cost of standard school supplies will cost a family nearly US $670, while the average household only makes US $328.75 in a given month.
  • In Colombia, families can expect to pay more than 15 percent of their monthly income on drawstring gym bags for their children this upcoming school year.
  • In the Dominican Republic, physical education classes will cost the most, with gym shoes and exercise books topping the list in the region as the most expensive items.
  • In Morocco, each child’s basic school supplies will cost a family more than 50 percent of their total monthly income, and the average family has 2.29 children throughout the region.
  • In Zimbabwe, costs to send a family’s house of children to school this year will cost more than 6 times more than the average household’s income.
  • In Lebanon, apparel will take up the largest portion of school budget this year, with polo shirts for a family costing more than 20 percent of the family’s average monthly income.
  • In Cameroon, costs for sending a household of children to school this year will cost families nearly 4 times their monthly income.
  • In Ghana, basic shoes for school-bound children mark the highest expense, accounting for nearly 25 percent of all costs this year.
  • In Kenya, families will pay more than 1.75 times their household monthly income on school supplies.
  • In France, sending a household of children to school will cost families more than 14 percent of their monthly income.
  • In Spain, sending a household of children to school will cost families nearly 13 percent of their monthly income.

WorldRemit recently connected with 3,000 international money senders to learn how inflation is impacting their daily behaviors and spending habits. The group listed educational support as one of the three primary reasons they send money overseas, but noted that as a result of the rising living costs, 52 percent now send money abroad to fewer people, with 72 percent now only sending to close family.

More than 244 million people are classified as immigrants around the world and account for large percentages of populations in countries like the United States (14.4 percent of total population), UK (9 percent) Australia (30 percent) and Canada (21.5 percent).

For the nearly 250 million people who live in different countries than their families, understanding the true cost of education is often top of mind. As such, planning for a child’s return to school can take months of financial planning for those working overseas to support family in their home country.

To learn more about the study and see full results, visit https://www.worldremit.com/en/back-to-school.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.