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Asia’s international
school boom cools
by James Pomfret schools are getting shorter or
disappearing altogether as en-
ASIA’S breakneck growth was a rolments drop.
REUTERSPIX
boon for international schools as “In comparison with 12
expatriates moved to the region months ago, we’ve seen a big
in droves bringing their school- change,” said Lee Quane, the
age children with them. But as Asia director for ECA Interna-
the economy cools so too has this tional, which advises companies
lucrative niche industry. on international assignments.
Turning over hundreds of “Back then there was a lack
millions of dollars, in its heyday of availability (of school places)
Asia’s international schools or relatively long waiting lists,
couldn’t keep up with demand and this was having a negative
for places for the progeny of impact on the attractiveness ber of Commerce in Hongkong. Elite field ... assistant secretary at Hong- 5-7% this year. China was one of
business people relocated by of Hongkong for expatriates,” Many top international Expatriate kong’s Education Bureau. “We the fastest markets, leapfrogging
companies expanding their Quane added. schools in Hongkong, such as students playing can’t afford another shortfall of from 123 schools in 2006 to 210
interests in the region. Experts say the lull may be the German Swiss International at the Hong Kong educational places ... which has this year.
Fees that ranged from just what the industry needs School, have had trouble ex- International a deterrent effect on the expatri- There are no figures for
US$20,000-US$50,000 (RM71,839 to consolidate and prepare for panding given red-tape and land ate community planning to come the industry, but conservative
-RM179,598) per child per year future growth once Asia is back shortages in the tiny city. to Hongkong.” calculations suggest it generates
meant the private companies on its feet, led by the economic Following calls to address “a There are about 1,200 revenue worth hundreds of mil-
that ran these schools were pull- powerhouses of China and India critical squeeze” on school places international schools in the lions of dollars a year across the
ing in handsome profits. Some and with growth increasingly by a broad coalition of business Asia-Pacific compared to 937 in region, drawing interest from
schools in Singapore charged fuelled not only by expats but by chambers, Hongkong plans to 2007, according to ISC Research, private equity funds.
US$200,000 (RM718,463) just to burgeoning middle-class Asians expand its pool of international which tracks the international Before the crisis deepened
put names on waiting lists. seeking an English education for school places from 35,000 to school market. last year, private equity group
Now, as expatriates leave their children. 40,000 in the next five years. ISC says Asia was the world’s Barings Asia paid US$360 mil-
China, Hongkong, Singapore “I think you’re going to see “In terms of land (allocations), fastest expanding region for in- lion (RM1.3 billion) for Nord
and other countries across the an increasing demand for school our priority is on international ternational schools, with average Anglia, a British-listed education
region due to the financial crisis, space,” said Richard Vuylsteke, schools in the next five years,” growth of around 11% in recent provider that runs nine interna-
waiting lists for international the head of the American Cham- said Raymond Sy, a principal years, but the rate could ease to tional schools including four in