The cost of debentures for international schools in Hong Kong has fallen by a third. This is because international schools in Singapore are seeing an increasing number of applications and a shortage of places.
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Border closures impact attractiveness
William Yiu, a reporter for the Hong Kong daily, said the cost of school debentures – which give students fast-track and priority access to school admissions processes – has “fallen 40% from its peak”. Debentures for Hong Kong’s international schools, which are among the best performing in the world according to OECD PISA statistics, ranged from around HKD 100,000 to around HKD 6,000,000.However, border closures caused by the pandemic and a lack of faith in Hong Kong’s rule of law have undermined the Special Administrative Region’s appeal to mobile workers around the world.Harrow International School Hong Kong’s debentures to Tuen Mun were valued at nearly HK$6 million ($770,000) in 2014 and now stand at around HK$3.4 million, a down 43%, according to the SCMP report.Speaking to the SCMP, Raymond Kwok, founder of BA Marketing & Co Ltd, an agency specializing in buying and selling school debentures, said the market could rebound. “The decline started two years ago after the pandemic hit, especially for Harrow International School, as fewer mainland students came to Hong Kong to study. But I think the price will increase after the border opens.
Competition for Places in International Schools in Singapore
The cost and demand for places in international schools in Hong Kong could still recover as local interest grows and preferences change. Some families move their children from government-funded schools to international schools with a view to eventually moving out of the country and continuing their education abroad.With Hong Kong-based multinationals in the region also considering their options, Singapore – more than 1,500 miles away and another major hub for globally mobile families – is likely to be among the winners of the war talents. Addressing the FinancialTimesCraig Considine, chief executive of Singapore-based Tanglin Trust School, said January and February this year had brought as many applications as all of last year, with 15 families interested in each place at a school. primary. This intense demand for places in international schools in Singapore could sabotage business and family plans, with boarding and day schools in the UK and Australia among education options in the next hottest destinations for mobile families. worldwide.
Education is the key to international relocation
Each of these trends shows how important education and international schools are to securing global talent and building new operations. This is something international schools themselves recognize, as well as schools in Hong Kong, many of which offer corporate debentures. “Relocation and school transitions are truly a team effort,” says Fiona Murchie, editor of Relocate Global and host of many of its webinars on all aspects of international education. “Having the right information at their fingertips is vital for families and employees if they want to make the right choice. If the family is settled, the mission is much more likely to be a success.
To explore international education and the world of work, why not join us on June 9 for the results of the Think Global People and Relocate Awards, and the Future of Work Festival?
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