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.
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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