Education Still Focus of Savings for Parents in APAC‏

MasterCard announced results of its survey on Consumer Purchasing Priorities

Some findings from this year’s survey…….
-Thai households top the region with 95% claiming they save regularly for their children’s education, followed by Taiwan, India and Singapore.
– Close to three-quarters of APAC consumers save regularly for their children’s education and on average, this takes up 13% of their monthly household income.
– Close to two-thirds of households spend money on extracurricular classes for their children.
– More than half of parents in India and Bangladesh are spending on tuition classes for their children, closely followed by Malaysia, Myanmar and Singapore.
– The majority of parents plan for their children to attend universities locally; two exceptions were parents in South Korea and China, where more than half intend to send their children to a university abroad.

The 16 Asia/Pacific markets covered include: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, Vietnam, Bangladesh and Myanmar.

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