PUBLISHER: China Research and Intelligence | PRODUCT CODE: 1231846
PUBLISHER: China Research and Intelligence | PRODUCT CODE: 1231846
Southeast Asia is densely populated with young demographics, and with a population growth rate of approximately 1.65% in 2020, Southeast Asia has a significant amount of population growth. The large total population has led to a gradual increase in the number of preschool-age children in Southeast Asia. According to CRI's analysis, as Southeast Asia's economy grows and the middle class expands, parents pay more attention to their children's education and invest more in their children's education, driving the development of Southeast Asia's education industry. In terms of preschool education, private kindergartens with beautiful teaching environment, complete teaching facilities and more abundant school places are attracting the attention of Southeast Asian parents.
The private kindergarten industry in Southeast Asia varies from country to country. According to CRI's analysis, Singapore's private kindergarten industry is relatively mature, with private kindergartens spread across the island, adopting the same teaching model as public kindergartens and providing children with quality hardware facilities while ensuring the quality of teaching. In contrast, the private kindergarten industry in Vietnam is at a developmental stage, and in 2018, the Vietnamese government amended Protocol No. 86 on Foreign Investment and Cooperation in Education to raise the quota of Vietnamese students in foreign-invested schools, further contributing to the development of the private kindergarten industry in Vietnam, with the number of private kindergartens growing.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.
CRI expects the private kindergarten industry in Southeast Asia to continue to grow from 2023-2032.
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