In Europe, Portugal has become one of the most popular Golden Visa destinations, particularly amongst American HNWIs. But Portugal’s neighbour, Spain, boasts the largest number of international schools of all Golden Visa investment options, with no less than 56 international schools.
Research by Astons, the international experts on real estate, residency and citizenship through investment, has revealed that when it comes to the provision of a better education for their children, Spain is the best option for international investors looking to Golden Visas, with the nation not only home to the highest number, but also some of the most affordable.
Astons analysed current trends across the global international school sector, including growth in the number of schools, staff, students and fee income, as well as looking at the average cost of an international school across 75 major global cities. Astons then looked at which Golden Visa programmes offer the largest number of international schools across major cities for potential investors.
Many investors looking to Golden Visa programmes do so in order to provide a better quality of life for their family and education for their children is a key influencer in their decision making process.
Increase in demand for international schools
With this in mind, it’s not surprising that demand for international schools has grown considerably over the last decade and analysis by Astons has found that the number of international students has increased by 53% in the last 10 years, climbing by 2.25m to 6.5m in total.
Growth of the global international school sector
The number of global international schools has also increased to meet this demand, up by 52%, along with a 59% increase in staff levels. What’s more, the estimated income from international school fees alone is estimated to sit at $56.2bn, having climbed by 66% in the last 10 years.
Astons research also shows that the average annual cost of attending an international school is currently $12,886 a year, although this climbs as high as $43,100 in New York, $36,243 in Beijing and $21,758 in London.
Golden Visa Programmes with the most International schools
While amongst some of the most expensive, the USA does boast the third highest numbers of international schools of all Golden Visa programmes, with 48 in total found across major US cities.
In Europe, Portugal has become one of the most popular Golden Visa destinations, particularly amongst American HNWIs, with American’s accounting for by far the largest number of applicants over the last two years. The popularity of Portugal’s Golden Visa is hardly surprising given that the nation’s major cities also have the second highest number of international schools of all Golden Visa programmes outside of the USA (51).
However, the Portuguese government has now made the decision to close its Golden Visa programme, although their digital nomad and D7 visas remain in place. A D7 visa requires applicants to spend 183 days a year living within Portugal, so for those looking to settle long-term, the nation could still remain a popular choice.
But investors need not look far for an even better Golden Visa alternative where the availability of international schooling is concerned. Portugal’s neighbour, Spain, boasts the largest number of international schools of all Golden Visa investment options, with no less than 56 international schools.
They are also amongst some of the most affordable of the 75 global cities analysed by Astons, with the average annual fee in Madrid ($8,951), Barcelona ($8,617), Malaga ($7,133), Alicante ($6,543) and Valencia ($6,027) all sitting below the average of $12,866.
Other strong options include Greece which is home to 19 international schools and Cyprus which boasts 11, while options are more limited in Malta (2) and Monaco (1).
Immigration Expert for Astons, Alina Lesina, commented: “Education is an incredibly important factor for those looking to improve their family’s quality of life through residency or citizenship by investment and so the availability of high quality international schools can often be a deciding factor in the decision making process.
It’s certainly one reason that Portugal has been a popular destination of choice in recent years but now that the nation will no longer be an option for investors, we expect Spain will see an uplift in demand.
Not only does it offer the same draws as Portugal from a geographical point of view, but the nation also boasts the highest number of international schools of all Golden Visa programmes, although we expect Greece to also remain a firm favourite.”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.