In education, as in everything else in life, you get what you pay for. Right? Well, as in everything else in life: not necessarily. According to the OECD findings, the success of a country’s education system depends more on how educational resources are invested than on the volume of investment.
PISA results suggest that above the threshold of USD 20,000 in terms of GDP per capita, national wealth is no longer a predictor of a country’s quality of education. What matters more is how the resources are spent rather than how much, especially, how much is invested in teachers. In general, the countries that perform well in PISA attract the best students into the teaching profession by offering them higher salaries and greater professional status.
Cuba (with around 13% of GDP) and Denmark and Moldova (with around 9%) have been among the countries spending most from public sources on education over the last three years. On the other hand, Central Europe (Slovakia, the Czech Republic or Croatia) invests relatively little in public education compared to other developed nations (around 4-5% of GDP only).
More details at www.helgilibrary.com/indicators/index/public-spending-on-education-as-of-gdp