In this article, we will be looking at the 20 most advanced countries in education. If you want to skip our detailed analysis of the global educational services market, you can go directly to 5 Most Advanced Countries in Education.
Education has become a necessary tool for personal growth and economic development, shaping lives while also fueling global economic growth. As the demand for quality education grows, the educational services market continues to expand.
The COVID-19 crisis and the lockdowns around the world accelerated the adoption of online learning, demonstrating its potential to provide flexible learning options and accessibility to learners worldwide. Online learning platforms are expanding their offerings, catering to the changing educational needs. The growing trend of online learning platforms is expected to positively influence the market in the years to come.
The global educational services market is dynamic and thriving, driven by an increasing demand for quality education, expansion of online learning platforms, and technological advancements. According to a report by The Business Research Company, the global educational services market’s value was estimated to be $3.17 trillion in 2022. Looking forward, the market is expected to grow at a compound annual growth rate of 7% during 2023-2027, propelling the market to reach a value of approximately $4.48 trillion by the end of the forecast period. Some of the key trends that are expected to drive market growth during the forecast period include personalization, blended learning, and the use of artificial intelligence (AI) to improve learning outcomes.
On November 16, Reuters reported that despite initial concerns regarding the misuse of generative AI products for homework cheating, OpenAI is exploring the potential of incorporating its popular ChatGPT chatbot into classrooms and educational settings. Brad Lightcap, OpenAI's chief operating officer, said that a new team will be formed at OpenAI to explore the educational applications of ChatGPT, which has already become a popular learning tool. The report also mentions that OpenAI has secured partnerships with education groups such as Khan Academy to develop an AI-powered tutor.
What are Some of the Biggest Companies in the Educational Services Market Up To?
Some of the most notable names in the global educational services market include Graham Holdings Company (NYSE:GHC), 2U, Inc. (NASDAQ:TWOU), and Stride, Inc. (NYSE:LRN).
Stride, Inc. (NYSE:LRN), previously known as K12 Inc., is an education company that offers online and blended education programs. As an education management organization (EMO), it provides online education designed as an alternative to traditional education for school students from kindergarten to 12th grade, as well as career learning programs. On November 9, Stride, Inc. (NYSE:LRN) reported that in a development that marks a significant breakthrough, MedCerts has launched a new healthcare training program that is powered by AI. MedCerts, a subsidiary of Stride, Inc. (NYSE: LRN), is known for its innovation in online career training in allied healthcare and information technology. By combining Conversational AI, Generative AI, and Natural Language Processing (NLP), MedCerts will provide learners with realistic patient scenarios that are customized in all the interactions without duplication within an End-to-End (E2E) platform. Dana Janssen, the Chief Product Officer at MedCerts, said:
“This combination of AI technologies replicates real-life patient cases in the virtual environment, uniquely preparing our students for success in the field.”
Companies in the educational services market are also collaborating with educational institutions and continuously creating new and relevant courses to attract new learners. 2U, Inc. (NASDAQ:TWOU) is an American educational technology company and the parent company of the online education platform edX. On November 10, 2U, Inc. (NASDAQ:TWOU) announced that in a significant expansion of its “flex” degree partnership model, it has formed agreements with 6 different universities to introduce 50 new degree programs. These new online degree programs, the majority of which will be launching in 2024, will be offered by 4 new 2U partners and 2 existing 2U partners. The 4 new 2U partners are Albany College of Pharmacy and Health Sciences (ACPHS), Hawai'i Pacific University (HPU), King's College London, and Maryville University, while the 2 existing partners include Emerson College and the University of Cape Town (UCT). 2U, Inc. (NASDAQ:TWOU) plans to launch at least 80 new degree programs in 2024.
Graham Holdings Company (NYSE:GHC) is an American diversified conglomerate holding company that offers various education and media services through its subsidiaries. These services include exam preparation, professional training, and online course and program support. Graham Holdings Company (NYSE:GHC) ranks among some of the best education stocks to buy in 2023. On November 1, Graham Holdings Company (NYSE:GHC) reported earnings for the fiscal third quarter of 2023. The company reported an EPS of $10.45 and beat estimates by $2.55. The company’s revenue for the quarter grew by 9.79% year-over-year and amounted to $1.11 billion, ahead of market consensus by $30.22 million.
Now that we have looked at what some of the leading companies in the global educational services market are up to, let’s take a look at the 20 most advanced countries in education.
20 Most Advanced Countries in Education
School children in a classroom using digital learning services to access educational content.
Methodology
In this article, we have listed the 20 most advanced countries in education. To compile a list of countries with the best education systems, it is necessary to consider a range of factors and indicators that measure the quality and effectiveness of education systems.
To identify the most advanced countries in education, we consulted the Academic Ranking of World Universities (ARWU), also known as the Shanghai Ranking. It is regarded as one of the most influential and widely observed university rankings. ARWU has been presenting a list of the world’s top universities each year based on a set of objective indicators and third-party data. In 2003, ARWU became the first global university ranking with multifarious indicators. Since 2009, the Academic Ranking of World Universities (ARWU) has been officially published annually by the Shanghai Ranking Consultancy, which is a fully independent organization dedicated to research on higher education intelligence and consultation.
To rank the most advanced countries in education, we analyzed the top 1000 ranked universities in the world and determined the countries with the highest number of universities within this ranking. In cases where multiple countries had an equal number of universities within the top 1000 rankings, a tie-breaking mechanism was employed and the countries with the higher number of universities in the top 500 were considered to have a more advanced education system. While the rankings are published each year, we used data obtained for the latest year in their dataset, which is for the year 2023. Finally, we ranked the 20 most advanced countries in education based on the number of universities in the top 1000 rankings, which are listed below in ascending order.
20 Most Advanced Countries in Education
20. Switzerland
Number Of Universities In The Top 1000 Rankings: 9
First up on our list of 20 most advanced countries in education is Switzerland, where the education system is very diverse. This is because the constitution of Switzerland delegates the authority for the school system mainly to the country’s cantons. In Switzerland, primary schooling is obligatory for every child and is free in state schools. There are 9 different universities from Switzerland in the top 1000 rankings. ETH Zurich, which is a public research university in Zürich, Switzerland, is the highest ranked Swiss university and it ranks at the number 20 spot on the list of Academic Ranking of World Universities 2023.
For investors looking to increase their exposure to the educational services industry, some stocks they can consider researching include Graham Holdings Company (NYSE:GHC), 2U, Inc. (NASDAQ:TWOU), and Stride, Inc. (NYSE:LRN).
19. Iran
Number Of Universities In The Top 1000 Rankings: 10
Iran is a country in the Middle East where education is centralized and divided into K-12 education plus higher education. The highest ranked university from Iran in the Academic Ranking of World Universities 2023 is the University of Tehran, which is the oldest and most prominent university in the country. It has been nicknamed “The Mother University (of Iran)”. Iran has 10 different universities in the top 1000 rankings.
18. Austria
Number Of Universities In The Top 1000 Rankings: 12
Austria is a landlocked country in Central Europe where children are required by law to attend school for a mandatory period of 9 years. The University of Vienna, which is a public research university located in the capital city of Vienna, is the highest ranked university from Austria in the Academic Ranking of World Universities 2023. Austria has 12 different universities in the top 1000 rankings.
17. Saudi Arabia
Number Of Universities In The Top 1000 Rankings: 12
Saudi Arabia is the largest country in the Middle East. The government of Saudi Arabia invests heavily in education. The highest ranked university from Saudi Arabia in the Academic Ranking of World Universities 2023 is the King Saud University, which is a public university in the capital city of Riyadh. Saudi Arabia has 12 universities in the top 1000 rankings.
16. Sweden
Number Of Universities In The Top 1000 Rankings: 13
Sweden is a Scandinavian nation where education is compulsory for children. Children have to start going to school from the year they turn six for at least 10 years, as mandated by the Swedish Education Act. Sweden has 13 different universities in the top 1000 Academic Ranking of World Universities 2023. The highest ranked is the Karolinska Institute, based in Stockholm, Sweden, which ranks among the world's leading medical universities.
15. Netherlands
Number Of Universities In The Top 1000 Rankings: 13
With 13 universities in the top 1000 Academic Ranking of World Universities 2023, the Netherlands ranks among the top 15 in our list of the most advanced countries in education. Utrecht University, which is a public research university, is the country’s highest ranked university.
14. Taiwan
Number Of Universities In The Top 1000 Rankings: 14
Taiwan, officially the Republic of China, is located in East Asia with the People's Republic of China to the Northwest. There are 14 different universities from Taiwan in the top 1000 Academic Ranking of World Universities 2023. Out of these, the highest ranked are the National Taiwan University and the China Medical University (Taichung).
13. India
Number Of Universities In The Top 1000 Rankings: 15
India in South Asia is one of the largest and most populated countries in the world. There are 15 different Indian universities in the top 1000 Academic Ranking of World Universities 2023. The Indian Institute of Science is the country’s highest ranked university.
12. Brazil
Number Of Universities In The Top 1000 Rankings: 18
Brazil is another one of the world’s largest and most populated countries on our list of the most advanced countries in education. Brazil has 18 universities in the top 1000 Academic Ranking of World Universities 2023. The University of São Paulo, which is Brazil’s largest public university and the most prestigious educational institute, is the country’s highest ranked university.
11. Canada
Number Of Universities In The Top 1000 Rankings: 25
With 25 different universities in the top 1000 Academic Ranking of World Universities 2023, Canada is one of the most advanced countries in education. The University of Toronto is the country’s highest ranked university, which ranks at the number 24 spot on the list of global rankings. All of Canada’s 13 provinces and territories run their own school system while adhering to government standards, this ensures high quality public education across the country.
10. France
Number Of Universities In The Top 1000 Rankings: 27
France has 27 universities in the top 1000 Academic Ranking of World Universities 2023. The Paris-Saclay University is the country’s highest ranked university, which ranks at the number 15 spot on the list of global rankings. Education in France is divided into three stages, which are primary education, secondary education, and higher education. France ranks among the top 10 most advanced countries in Education.
9. South Korea
Number Of Universities In The Top 1000 Rankings: 30
South Korea is one of the top performing nations in literacy, reading, mathematics, and sciences. As one of the most advanced countries in education, South Korea has 30 universities that made it to the top 1000 Academic Ranking of World Universities 2023. The Seoul National University is the country’s highest ranked university.
8. Japan
Number Of Universities In The Top 1000 Rankings: 32
Education in Japan is mandatory at the elementary and lower secondary levels. In the top 1000 Academic Ranking of World Universities 2023, there are 32 universities from Japan. The University of Tokyo is the country’s highest ranked university, which ranks at the number 27 spot on the list of global rankings.
7. Australia
Number Of Universities In The Top 1000 Rankings: 34
Australia is home to some of the best universities in the world. Australia has 34 universities in the top 1000 Academic Ranking of World Universities 2023. The University of Melbourne, which is a public research university and Australia’s second oldest university, is the country’s highest ranked university.
6. Spain
Number Of Universities In The Top 1000 Rankings: 38
In Spain, education is compulsory and free for all children between the ages of 6 and 16 years. With 38 different universities in the top 1000 Academic Ranking of World Universities 2023, Spain ranks high among the most advanced countries in education. The University of Barcelona and the University of Granada are two of Spain’s highest ranked universities.
Some of the top educational services stocks to consider investing in include Graham Holdings Company (NYSE:GHC), 2U, Inc. (NASDAQ:TWOU), and Stride, Inc. (NYSE:LRN).
