22% of income on education

Families in South Korea spend 22% of their income on education and 13% on their housing. How many of us in the UK spend an amount each month on educating our families that comes anywhere near what we spend on our mortgage or rent, or even our leisure spend. It is worth thinking about, especially as the skills and talent of our next generation will determine whether a company is successful or not in future. All about the people. Also, most of us focus any spend on education at senior school or university fees – but in Asia, the big spend is on infant education – that’s where they get the greatest benefit and they generate millions of students keen to learn and able to learn (from a Vistage UK event hosted by my old chum Steve Gilroy www.vistage.co.uk).

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