A World Remit 2022 Cost of School report has indicated that the cost of sending children to school in Zimbabwe this year will be over six times more than the average household’s income, ranking it among the world’ s most expensive places for sending children to school.
By Michael Gwarisa
According the report which observed 21 markets globally, by comparing 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, most families will struggle to send children to school.
In Zimbabwe, costs to send a family’s house of children to school this year will cost 6 times more than the average household’s income. Household incomes have decreased by 4%, while costs have increased across majority of countries observed year-over-year,” reads the report.
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%, fertility rates remained steady and the cost of basic school supplies increased by more than 7% on average.
Comparing with regional countries, Cameroon’s cost for sending a household of children to school this year will be nearly 4 times an average family’s monthly income while in Ghana, the survey found that basic shoes for school-bound children mark the highest expense, accounting for nearly 25% of all costs this year.
In Kenya, families will pay more than 1.75 times their household monthly income on school supplies. In Nigeria, families can expect to pay 9% more in school supplies, with the item boasting the greatest percentage increase being a 30cm ruler (+30%).
Of all countries observed, the US can expect to pay the lowest percentage of their household income (7%), and Uganda can expect to pay the highest percentage (838%)
WorldRemit recently connected with 3,000 international money senders to learn how inflation is impacting their daily behaviours 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% now send money abroad to fewer people, with 72% now only sending to close family,” WorldRemit said.
“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% of total population), UK (9%) Australia (30%) and Canada (21.5%),”