WorldRemit Study Finds Multiple Countries Pay More than 50% of Monthly Income on School Supplies

LONDON, AUGUST 31, 2021-- Back-to-School season is here! Around the world, families are readying their children with the proper gear for a successful school year. 

In keeping with the spirit of this exciting time, WorldRemit conducted a 10-country study to determine the true cost of education across a number of markets, mining data to compare average costs of basic educational needs with average annual incomes and fertility rates. 

WorldRemit compared four developed economies in the study - the USA, UK, Australia and Canada - and found educational costs per household are the highest in the UK, averaging USD 339.30 / GBP 244.65, or 8% of the total monthly income for nearly half of all residents.

Across these four countries, those with Nigerian ancestry make up more than half a million of the countries’ populations in total, where costs of basic school supplies are more than 100% of the average monthly salary for a native Nigerian household. Alternatively, for Filipinos, of whom 12 million live in countries other than the Philippines, those back home can expect to pay 64% of their monthly salary to cover school expenses this season.

All figures are USD

United Kingdom

• Average Annual Income: 46% make $36-68k

• Average Monthly Income: 4,333

• Average Children per household: 1.86

• Average Cost of School Supplies per child: 182.42

• Average Total Cost of School Supplies per household: 339.30

• Percentage of Monthly Income: 8%

United States

• Average Annual Income: 49% make $39-87k

• Average Monthly Income: 5250

• Average Children per household: 1.84

• Average Cost of School Supplies per child: 168.02

• Average Total Cost of School Supplies per household: 309.16

• Percentage of Monthly Income: 6%

Canada

• Average Annual Income: 52% make $38-105k

• Average Monthly Income: 5,958

• Average Children per household: 1.57

• Average Cost of School Supplies per child: 204.88

• Average Total Cost of School Supplies per household: 321.66

• Percentage of Monthly Income: 5%

Australia

• Average Annual Income: 48% make $53-119k

• Average Monthly Income: 7,166

• Average Children per household: 1.74

• Average Cost of School Supplies per child: 171.92

• Average Total Cost of School Supplies per household: 299.14

• Percentage of Monthly Income: 4%.

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%). 

In these countries, where average household incomes are amongst the highest in the world, immigrants and overseas foreign workers are often working to support themselves whilst also supporting their families and communities back home.

According to a recent Consumer Expectations Survey (CES) education is one of the primary reasons immigrants and overseas foreign workers (OFWs) send money back to their home countries. Because of the high cost of education in many parts of the world and the opportunities an education provides to a young person, it is vital for senders to be able to support those dearest to them with the gift of an education. 

For the nearly 250 million people who live in different countries than their families, understanding the true cost of education is often top of mind.

As such, planning for a child’s return to school can take months of financial planning for those working overseas to support family in their home country. 

To learn more about the study and see full results, visit https://www.worldremit.com/en/back-to-school

Notes to Editors: 

Methodology

In the study, WorldRemit looked at the following countries and researched basic school supplies:

• United States of America

• United Kingdom

• Canada

• Australia

• Philippines

• Mexico

• Uganda

• Tanzania

• India

• Nigeria

The primary school items were selected based on the most common back to school items. The price of each item was searched for online and the lowest price item was selected from one of the most popular online retailers in that country. The prices were researched in July 2021. The exchange rate from the local currency was calculated on 26/07/2021 at 10:00 BST. The fertility rate and income was gathered from the CIA world factbook.

1 WorldRemit back to school cost overview. (2021).

2  United Nations, Department of Economic and Social Affairs, Population Division (2015). Trends in International Migrant Stock: The 2015 Revision. (United Nations database, POP/DB/MIG/Stock/Rev.2015).

3  UK Parliament, House of Commons Library: Migration Statistics (2021, Quarter 2).

4 Australian Bureau of Statistics: Migration, Australia  (2021, Quarter 2).

5 Statista: Immigration in Canada: Statistics & facts (2021, Quarter 3).

6  Consumer Expectations Survey (CES). Media and Research - Consumer Expectations Survey (2021, Quarter 2).

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About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money. 

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.