Household consumption expenditure on education per household in the United States attained a value of $2,286 in 2020. It recorded a decline of 4.5% in 2020 compared to the previous year. Between 2010-2020, the household consumption expenditure on education per household in the United States increased by 13.2%. The indicator in the United States was highest in the year 2019 and lowest in the year 2010, between 2010 and 2020.
This indicator refers to consumption expenditure on education, per household. Data includes expenditures incurred by resident households on education which includes expenses on educational goods, schools, colleges, and other vocational educational services.
According to GlobalData, the countries with the highest household consumption expenditure on education per household in 2020 were Australia, Singapore, Hong Kong, the United States, Israel, Cyprus, Ireland, Canada, Luxembourg, and Iceland.
Ukraine, Estonia, the Czech Republic, Thailand, Sweden, Lithuania, Bulgaria, Serbia, Bosnia and Herzegovina, and Belgium were some of the countries with the lowest household consumption expenditure on education per household in 2020.
Between 2010 and 2020, Bulgaria, Singapore, Hungary, Austria, Iceland, Lithuania, Australia, Serbia, Thailand, and Canada were some of the countries with the highest growth in household consumption expenditure on Education per household. Romania, Greece, the Czech Republic, Italy, Turkey, Mexico, Poland, Norway, Portugal, and Colombia are the countries with the lowest growth in household consumption expenditure on Education per household.
The expenditure on education as a % of GDP in the US was 6.4% in 2020, an increase of 3.8% from the previous year. Between 2010-2020, the expenditure on education as a % of GDP in the United States decreased by 16.7%. In 2020, the US spent more than $1.3 trillion on education, with private education expenditure of $354 billion and public education expenditure of $984 billion.
The fight against poverty depends heavily on education. Spending on education contributes to economic growth and raises a nation's GDP. It contributes to lowering neonatal mortality, raising the average lifespan, and lowering school and college dropout rates.
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