Filipinos spend 15.4% of household budget for education–Nielsen survey

FILIPINOS spend more for education compared to other nationalities, according to the latest Global Survey of Education Aspirations released by market research firm Nielsen Holdings NV.

In a statement, Nielsen Philippines said around 15.4 percent of Filipinos’ monthly household budget are spent on education expenses, exceeding the global average of 8 percent.

Nielsen said many developing countries across Latin America, Asia-Pacific and the Middle East/Africa regions beat the global average for monthly allocation on education expenses.

However, many European respondents said they allotted the least amount to monthly spending on education due largely to subsidized education programs.

“Although the cost to education can be prohibitive, Filipinos strive to allocate money for education more importantly now that the pace of technological change is creating new opportunities and presenting new challenges for today’s children. Education is seen as a levelling factor that will help them compete for better jobs and better salaries,” Nielsen Philippines Managing Director Stuart Jamieson said.

Nielsen said the survey revealed that 90 percent of Filipino online respondents believe that education leads to better employment opportunities, higher than the global average of 75 percent.

Data also showed that 87 percent of online Filipino respondents believe that education makes it possible to earn a higher income, well above the global average of 72 percent.

The perception of local educational opportunities is high among Filipino respondents, data whoed with 95 percent agreeing that opportunities to receive outstanding primary education are abundant in the places where they live.

Philippine respondents joined their counterparts from Indonesia, India and Thailand who also surpassed the global average for all levels of educational programs.

Further, Nielsen said the perception of consumers on companies, which support education initiatives, 77 percent of Filipino respondents said are likely to buy products from a company that supports education initiatives. This is higher than the global average of 68 percent and Asia Pacific average of 74 percent.

“Getting more involved in education initiatives can go beyond monetary contributions. Companies can help promote innovation in the classroom by calling on the expertise of its employees to share knowledge or facilitate access to tools that will aid young people,” Jamieson said.

“It’s a win-win situation for both corporations and students—employees become more engaged while students benefit from an enhanced learning experience,” he added.

The Nielsen Global Survey of Education Aspirations polled more than 29,000 Internet respondents in 58 countries to measure consumer sentiment on the availability of educational opportunities at all levels of study, and the resulting opportunity for job and salary advancement. –Cai U. Ordinario, Businessmirror