Saudi Arabia’s $50 bn education budget for 2023 is the largest in the Gulf region. The data was revealed by Alpen Capital in its latest report.
Overall, education spending across the region averaged 13.3 percent this year compared to 13.1 percent in 2020.
Saudi’s education budget comprises 17 percent of its overall expenditure plan. Given this investment strategy, Saudi is seen to become the Gulf’s largest education market in the next four years.
However, the Alpen Capital report stated that student population in the UAE and Kuwait are expected to increase faster than in any other Gulf state.
Education budget allocation
Oman has the second highest education budget allocation next to Saudi. It appropriated $1.9 bn or 16.7 percent of the country’s national expenditure.
Meanwhile, the UAE’s education spending this year increased to 15.5 percent from 14.8 percent in 2020. On the other hand, Kuwait’s education expenditure remained at 11.5 percent of its total budget.
It is interesting to note that the education budgets of Saudi Arabia, Oman, UAE, and Kuwait are higher than those in the US, UK, and Germany.
Read: How Arab nations are leading the skills revolution
Saudi education budget priorities
Saudi, with a population of 35 million, is aiming for an additional 900,000 classroom seats in the next few years. This target will increase enrollment from the current 15 percent to 25 percent by 2030.
Moreover, its education system is going through a significant transformation. Previously, only a few people, mostly children of wealthy families, were able to attend school during its early days in the 1930s.
Nowadays, Saudi Arabia has more than 50 public and private universities. There also are some 30,000 schools as well as a big number of colleges and institutions. The system is open to all citizens, and provides students with free education, books and health services.
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