Description
Education
holds high importance in China, which explains an almost 99% literacy rate in
the country. Children have to receive nine years of compulsory education and
generally, preschools are their first step toward education. A preschool or a
childcare center offers a learning environment, which is tailored to individual
personalities and characteristics of each child, primarily aged below 6 years
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In
recent times, China has started to open up for a global approach in education,
as a result of which English is gaining prominence in curriculum and the number
of international preschools and childcare centers is increasing. For instance,
earlier in 2017, the Department of International Trade (DIT) launched the GREAT
Early Years Education mission in China. With the outstanding expertise and
education of U.K. in the early years sector, children will be able to
experience various activities, which will eventually help them build a better
personality.
Private Preschools Attracting Parents with
Variety of Learning Methodologies
Based
on ownership, preschool or childcare centers can be private or public. Private
establishments are high in China and their number is expected to increase
significantly in coming years. Various companies and organizations are setting
up their own schools in China for children of their employees. With rising
competition among students to secure admissions in premium schools, parents are
putting great emphasis on ensuring quality education for their children right
from the early stage. This is likely to support an increase in the number of
private preschool and childcare centers. These preschools provide a variety of
curriculum and preschool learning methodologies, thereby offering several
options to children. Rising disposable income of the populace will also
supplement the growth of the segment.
Demand
for preschools and childcare centers is likely to witness a sharp rise in China
in coming years, owing to favorable changes in government policies such as the
end of the one-child policy. The number of admissions in public preschools is
likely to go up at a noteworthy pace owing to increasing investments by the
government. Growing efforts by the government to improve infrastructure and
curriculum of these preschools and childcare centers will encourage parents to
opt for them.
Market Insights
According
to a report added to the large repository of Radiant Insights, Inc.; the preschool
or childcare market in China is projected to progress at a CAGR of 14.01% from
2017 to 2021. Rising disposable income and increasing urbanization are
leveraging living standards of the populace. As a result, they are making
significant investments in cultural activities and high-quality education of
their children. Increasing educational expenses in Chinese households is
anticipated to propel the market. Growing population of working women is also
one of the key growth stimulants of the market
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Some
of the prominent players in the market are Yew Chung International School of
Shanghai, Golden Apple Education Group, Montessori School of Shanghai, Rainbow
Bridge International School- Hong Qiao International School (RBIS-HQIS), and
Shanghai American School
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