Gulf states spend $150 billion on education annually
By Fatima Muhammad
JEDDAH — Secretary General of the Federation of GCC Chambers, Abdulrahim Hassan, has said the Gulf states spend about $150 billion on education with a cumulative annual increase in spending of about 1.8%. It is expected that the number of students in the GCC will reach 11.3 million by 2020 and up to 75% of these students are in Saudi Arabia. This means that GCC states will need 163,200 new teachers by 2020.
Assistant to the secretary general of the Federation of GCC Chambers for economic and development issues, Khalifa Al-Abri, said the education sector offers a great investment opportunity.
He added that the value of investment in the private education sector is estimated at $36 billion in the GCC. He added that the private education constitute 14% of the education offered in the GCC region.
Saudi Minister of Education Ahmad Al-Issa said the Kingdom’s 2030 vision reflects a march toward a new stage of growth that is based on expertise and skills of indigenous people.
He added that much focus should be given to the GCC development needs through diversifying income and reducing dependency on oil. This, he said, can be achieved through new added value activities that can create jobs and encourage innovation, creativity and proving qualified individuals in different sectors.
The future, he said, needs mare public-private partnership in all sectors not just in education. He added that GCC states need also to work together to reform education, equip and prepare youth for the job market.
The officials were speaking at 6th annual Education Conference and Exhibition held at the University of Business and Technology. Some 60 universities from the GCC and Europe are taking part in the event.
© The Saudi Gazette 2017
