Insider Monkey Global Education Index

Insider Monkey Global Education Index

Insider Monkey Global Education Index

Index Methodology

To compute the Insider Monkey Global Education Index, we utilized three indicators:

1. The number of universities ranked among the top 1000 on the QS university rankings. (primary metric)

2. The average rank of the universities ranked among the top 1000. (secondary metric)

3. The per capita government expenditure on education. (tertiary metric)

To compute indicator 2, we calculated the average of the individual ranks of all universities in a given country that are ranked among the top 1,000 of QS World University Rankings 2024.

To compute indicator 3, we utilized the expenditure on education, total, as a percentage of GDP, dataset (indicator 4) from UNESCO Institute for Statistics. Data for indicator 4 is as of 2022, and we have assumed it as constant in 2023. For missing values, we did a regression analysis and found the correlation between education expenditure and GDP per capita for countries that had data. We then used our function to compute values for countries that were missing education expenditure percentages. Finally, we multiplied the percentage with the GDP per capita to compute the estimated per capita spending on education for each country, as of 2023.

We compiled data for 218 countries and territories and normalized all three of our indicators between 0 and 1. To compute our index, we computed a weighted sum of normalized values of all three indicators.

Our resulting index sorts countries in the following manner:

1. Countries that have universities in the top 1,000 are sorted according to the number of top universities.

2. Countries that have the same number of universities in the top 1,000 are sorted according to the average rank of their top universities.

3. Countries that score equally on indicators 1 and 2 are sorted according to the per capita government expenditure on education.

Our Sources:

The table below presents 218 countries in descending order of their Insider Monkey Global Education Index values.

Rank

Countries QS Universities Total Average Rank of Universities Expenditure on Education (as a % of GDP) GDP per Capita in US$ Per Capita Spending in US$ Insider Monkey Global Education Index

1

United States 142 433 5.44 80412.41 4371 0.999792487

2

United Kingdom 81 401 5.33 48912.78 2606 0.570427372

3

China 57 498 3.30 12541.40 414 0.401428842

4

Germany 45 415 4.53 52823.58 2393 0.317023912

5

Australia 36 324 5.56 63487.05 3527 0.253730350

6

Italy 36 572 4.13 37146.23 1534 0.253591239

7

Japan 32 549 3.32 33949.71 1126 0.225443580

8

Korea 31 516 4.80 33147.23 1592 0.218425256

9

India 31 619 4.64 2612.45 121 0.218361040

10

Canada 28 386 4.14 53246.98 2204 0.197377321

11

Spain 28 529 4.59 33090.24 1517 0.197301884

12

Russian Federation 26 582 3.70 13005.71 481 0.183188759

13

France 25 439 5.25 46315.20 2429 0.176238374

14

Malaysia 19 478 3.51 13034.07 457 0.133967113

15

Taiwan 15 489 5.00 32339.70 1617 0.105818474

16

Saudi Arabia 14 634 7.80 32586.17 2542 0.098720043

17

Netherlands 13 168 5.14 61769.70 3172 0.091910499

18

Kazakhstan 13 691 4.21 12968.43 545 0.091633444

19

Poland 12 752 4.94 22393.03 1107 0.084571220

20

United Arab Emirates 11 522 3.90 50602.33 1971 0.077651362

21

Mexico 11 652 4.63 13803.74 639 0.077575539

22

Argentina 11 664 4.65 13297.43 618 0.077569714

23

Switzerland 10 206 5.04 102865.60 5189 0.070796791

24

Brazil 10 541 5.77 10413.00 601 0.070590000

25

South Africa 10 547 6.18 6190.74 383 0.070584482

26

Turkiye 10 604 2.85 13383.92 381 0.070557498

27

Colombia 10 616 5.27 6975.87 367 0.070551566

28

Belgium 9 307 6.23 53656.83 3345 0.063691147

29

Finland 9 359 5.69 54507.14 3104 0.063663420

30

Indonesia 9 499 3.05 5108.94 156 0.063566732

31

Chile 9 580 5.63 17253.75 971 0.063535886

32

Pakistan 9 638 1.97 1471.10 29 0.063498983

33

Sweden 8 179 6.68 55215.85 3688 0.056717107

34

New Zealand 8 254 5.54 48071.75 2663 0.056670850

35

Ireland 8 418 2.98 112247.70 3350 0.056598913

36

Austria 8 433 4.99 58013.27 2893 0.056587209

37

Portugal 8 485 4.71 26878.87 1267 0.056546047

38

Czechia 8 563 5.05 30474.53 1540 0.056511404

39

Lebanon 8 646 1.67 4059.90 68 0.056456540

40

Thailand 8 665 2.61 7297.99 191 0.056448867

41

Hong Kong 7 172 3.73 51168.05 1908 0.049663548

42

Israel 6 421 7.42 53195.88 3945 0.042526467

43

Iran 6 451 3.20 4233.99 136 0.042473214

44

Greece 6 591 4.06 23173.06 940 0.042414243

45

Ukraine 6 837 5.74 5224.59 300 0.042290151

46

Denmark 5 207 6.04 71402.14 4313 0.035593903

47

Hungary 5 703 5.00 21075.62 1054 0.035323109

48

Singapore 4 252 2.39 87884.16 2099 0.028510975

49

Norway 4 317 5.04 99266.30 5005 0.028509439

50

Egypt 4 602 2.50 3770.13 94 0.028323011

51

Philippines 4 612 3.58 3859.19 138 0.028318548

52

Lithuania 4 719 4.84 28481.99 1379 0.028280013

53

Jordan 4 733 3.24 4850.66 157 0.028261030

54

Uruguay 4 769 4.37 21377.63 934 0.028251790

55

Peru 4 785 3.89 7668.67 299 0.028237560

56

Viet Nam 4 784 2.90 4316.34 125 0.028236039

57

Venezuela 3 721 1.30 3474.33 45 0.021226629

58

Kuwait 3 791 6.60 32215.03 2126 0.021214374

59

Bahrain 3 761 1.99 28464.17 566 0.021212752

60

Bangladesh 3 781 1.97 2621.29 52 0.021198119

61

Latvia 3 818 5.70 24929.18 1421 0.021194451

62

Qatar 2 242 3.23 81968.34 2651 0.014444132

63

Macao 2 380 5.25 54295.66 2851 0.014380070

64

Brunei Darussalam 2 456 4.40 34383.53 1513 0.014329861

65

Estonia 2 505 5.91 30998.32 1832 0.014309872

66

Belarus 2 594 4.61 7477.29 344 0.014251916

67

Slovenia 2 736 5.67 32350.02 1834 0.014199020

68

Cuba 2 746 11.52 9499.60 1095 0.014186731

69

Costa Rica 2 748 6.28 16213.26 1018 0.014185238

70

Slovak Republic 2 811 4.40 24471.09 1076 0.014155408

71

Romania 2 826 3.25 18413.47 599 0.014143387

72

Ecuador 2 851 3.65 6500.05 237 0.014127742

73

Luxembourg 1 381 4.64 135605.40 6291 0.007375519

74

Cyprus 1 368 5.62 34790.58 1955 0.007337759

75

Oman 1 454 5.40 21265.63 1148 0.007288388

76

Serbia 1 721 3.30 11301.22 373 0.007152648

77

Bulgaria 1 741 4.49 16086.57 723 0.007146618

78

Croatia 1 751 5.20 20876.46 1086 0.007145518

79

Georgia 1 801 3.81 8164.86 311 0.007113709

80

Malta 1 851 5.63 38715.19 2179 0.007108712

81

Kyrgyz Republic 1 851 7.96 1829.59 146 0.007088082

82

Ethiopia 1 851 3.74 1473.36 55 0.007087163

83

Panama 1 951 3.89 18493.47 719 0.007046005

84

Tunisia 1 951 7.30 4190.60 306 0.007041815

85

Iraq 1 951 4.70 5882.89 276 0.007041517

86

Ghana 1 951 2.91 2328.97 68 0.007039399

87

Uganda 1 951 2.56 1163.03 30 0.007039014

88

Liechtenstein 0 0 6.24 197504.50 12324 0.000124999

89

Iceland 0 0 7.73 78836.85 6095 0.000061806

90

Greenland 0 0 10.20 57116.30 5826 0.000059080

91

Faroe Islands 0 0 7.60 66979.30 5090 0.000051619

92

Isle of Man 0 0 5.05 79530.60 4015 0.000040709

93

Monaco 0 0 1.42 240862.20 3429 0.000034767

94

Channel Islands 0 0 4.93 67960.70 3351 0.000033978

95

Gibraltar 0 0 4.87 61700.00 3004 0.000030450

96

Cayman Islands 0 0 2.87 99624.90 2855 0.000028946

97

Bermuda 0 0 1.92 118774.80 2283 0.000023141

98

Aruba 0 0 5.50 35717.95 1964 0.000019908

99

Virgin Islands (U.S.) 0 0 4.67 41976.00 1960 0.000019861

100

San Marino 0 0 3.11 58540.80 1820 0.000018442

101

Guam 0 0 4.61 35904.90 1654 0.000016762

102

Sint Maarten (Dutch part) 0 0 4.61 35873.10 1653 0.000016746

103

New Caledonia 0 0 4.61 35745.20 1646 0.000016682

104

Curacao 0 0 7.02 20501.80 1439 0.000014573

105

British Virgin Islands 0 0 2.87 46997.00 1349 0.000013662

106

Puerto Rico 0 0 3.60 37093.33 1335 0.000013526

107

Andorra 0 0 2.67 44107.32 1176 0.000011910

108

Palau 0 0 6.80 15113.30 1028 0.000010405

109

Bahamas 0 0 2.95 34370.86 1013 0.000010260

110

Seychelles 0 0 4.74 20889.55 990 0.000010025

111

Nauru 0 0 8.33 11756.99 979 0.000009910

112

Barbados 0 0 4.51 21442.45 967 0.000009787

113

Guyana 0 0 4.45 20564.64 915 0.000009264

114

St. Martin (French part) 0 0 4.45 20320.70 904 0.000009154

115

American Samoa 0 0 4.44 19673.40 874 0.000008848

116

French Polynesia 0 0 4.44 18984.90 842 0.000008525

117

Turks and Caicos Islands 0 0 3.29 24917.60 819 0.000008285

118

Maldives 0 0 4.58 17558.75 804 0.000008139

119

Northern Mariana Islands 0 0 4.42 17302.90 765 0.000007738

120

St. Kitts and Nevis 0 0 4.03 18158.49 731 0.000007397

121

Antigua and Barbuda 0 0 3.56 19068.28 679 0.000006873

122

Botswana 0 0 8.06 7758.37 625 0.000006322

123

St. Lucia 0 0 4.20 13572.26 570 0.000005759

124

Mauritius 0 0 4.84 11751.51 569 0.000005755

125

Trinidad and Tobago 0 0 2.64 19621.79 518 0.000005235

126

St. Vincent and the Grenadines 0 0 5.46 9359.90 511 0.000005168

127

Montenegro 0 0 4.36 11338.80 494 0.000004994

128

Turkmenistan 0 0 3.78 12934.24 489 0.000004939

129

Dominica 0 0 5.13 9356.05 480 0.000004851

130

Micronesia 0 0 10.54 4357.64 459 0.000004639

131

Grenada 0 0 3.94 11436.94 450 0.000004546

132

Namibia 0 0 9.36 4785.68 448 0.000004523

133

Marshall Islands 0 0 6.98 6141.23 429 0.000004327

134

Dominican Republic 0 0 3.75 11248.79 422 0.000004260

135

Jamaica 0 0 5.52 6830.87 377 0.000003805

136

Moldova 0 0 5.81 6410.93 373 0.000003761

137

Fiji 0 0 5.97 6024.78 360 0.000003631

138

Bosnia and Herzegovina 0 0 4.32 7778.30 336 0.000003391

139

North Macedonia 0 0 4.32 7672.01 332 0.000003344

140

Bolivia 0 0 8.44 3857.84 325 0.000003282

141

Belize 0 0 4.47 7141.54 319 0.000003220

142

Tonga 0 0 5.65 5487.67 310 0.000003123

143

Algeria 0 0 6.30 4874.71 307 0.000003095

144

Kiribati 0 0 15.59 1968.03 307 0.000003091

145

Solomon Islands 0 0 12.80 2285.40 293 0.000002947

146

Bhutan 0 0 8.14 3500.49 285 0.000002871

147

Equatorial Guinea 0 0 4.31 6502.19 280 0.000002823

148

Cabo Verde 0 0 6.04 4502.78 272 0.000002738

149

Kosovo 0 0 4.30 5912.08 254 0.000002561

150

Libya 0 0 4.30 5872.22 253 0.000002544

151

El Salvador 0 0 4.53 5557.58 252 0.000002534

152

Albania 0 0 3.09 8057.49 249 0.000002506

153

Tuvalu 0 0 4.30 5772.92 248 0.000002500

154

Morocco 0 0 5.77 3979.87 230 0.000002309

155

Mongolia 0 0 4.26 5348.07 228 0.000002290

156

Eswatini 0 0 5.69 3995.03 227 0.000002287

157

Azerbaijan 0 0 2.90 7529.70 219 0.000002198

158

Suriname 0 0 3.81 5667.11 216 0.000002168

159

Paraguay 0 0 3.64 5842.96 212 0.000002135

160

Samoa 0 0 4.48 4638.15 208 0.000002088

161

Armenia 0 0 2.49 8283.12 207 0.000002075

162

Gabon 0 0 2.21 8831.82 195 0.000001958

163

Guatemala 0 0 3.23 5407.24 175 0.000001751

164

Honduras 0 0 5.36 3245.02 174 0.000001744

165

Sao Tome and Principe 0 0 5.16 2904.72 150 0.000001499

166

West Bank and Gaza 0 0 5.43 2753.60 150 0.000001498

167

Djibouti 0 0 3.75 3761.24 141 0.000001411

168

Uzbekistan 0 0 5.28 2509.16 133 0.000001325

169

Nicaragua 0 0 4.09 2599.26 106 0.000001057

170

Senegal 0 0 5.64 1714.65 97 0.000000961

171

Cote d'Ivoire 0 0 3.52 2728.08 96 0.000000953

172

Kenya 0 0 4.08 2187.65 89 0.000000884

173

Republic of the Congo 0 0 2.95 2857.61 84 0.000000835

174

Vanuatu 0 0 2.17 3491.86 76 0.000000750

175

Nigeria 0 0 4.26 1755.33 75 0.000000739

176

Lesotho 0 0 6.40 1050.00 67 0.000000659

177

Tajikistan 0 0 5.45 1180.06 64 0.000000632

178

Angola 0 0 2.33 2550.00 59 0.000000583

179

Zambia 0 0 3.58 1435.89 51 0.000000502

180

Nepal 0 0 3.65 1352.61 49 0.000000480

181

Rwanda 0 0 4.75 1031.69 49 0.000000477

182

Papua New Guinea 0 0 1.87 2581.18 48 0.000000471

183

Burkina Faso 0 0 5.28 888.03 47 0.000000455

184

Benin 0 0 3.21 1449.11 47 0.000000452

185

Mozambique 0 0 7.03 647.14 45 0.000000441

186

Cameroon 0 0 2.62 1721.95 45 0.000000437

187

Timor-Leste 0 0 2.97 1497.41 45 0.000000432

188

Tanzania 0 0 3.24 1326.63 43 0.000000416

189

Zimbabwe 0 0 2.05 2005.88 41 0.000000397

190

Sri Lanka 0 0 1.20 3316.25 40 0.000000383

191

Togo 0 0 3.80 1004.47 38 0.000000367

192

Mali 0 0 4.04 912.64 37 0.000000353

193

Comoros 0 0 2.43 1377.02 33 0.000000319

194

Cambodia 0 0 1.67 1915.63 32 0.000000304

195

Guinea 0 0 1.99 1542.76 31 0.000000290

196

Mauritania 0 0 1.28 2337.91 30 0.000000283

197

Myanmar 0 0 2.14 1381.06 30 0.000000280

198

Eritrea 0 0 4.25 656.83 28 0.000000263

199

Guinea-Bissau 0 0 2.70 1028.22 28 0.000000261

200

Korea 0 0 4.25 639.60 27 0.000000256

201

Haiti 0 0 1.27 2125.32 27 0.000000255

202

Yemen 0 0 4.25 617.67 26 0.000000246

203

Lao PDR 0 0 1.39 1878.71 26 0.000000245

204

Niger 0 0 4.10 630.80 26 0.000000242

205

Gambia 0 0 2.73 903.29 25 0.000000230

206

Sudan 0 0 4.25 533.85 23 0.000000210

207

Liberia 0 0 2.60 800.21 21 0.000000190

208

Democratic Republic of Congo 0 0 3.00 675.48 20 0.000000185

209

Malawi 0 0 3.32 579.70 19 0.000000175

210

Chad 0 0 2.54 702.85 18 0.000000161

211

Madagascar 0 0 3.14 529.56 17 0.000000148

212

Syrian Arab Republic 0 0 4.25 361.15 15 0.000000135

213

Afghanistan 0 0 4.30 315.80 14 0.000000117

214

Sierra Leone 0 0 3.05 414.96 13 0.000000108

215

Burundi 0 0 4.87 245.81 12 0.000000101

216

Central African Republic 0 0 2.12 539.24 11 0.000000095

217

South Sudan 0 0 1.60 417.44 7 0.000000047

218

Somalia 0 0 0.27 717.41 2 0.000000000

Index Creator: This index is created by Inan Dogan, PhD. Inan Dogan has more than 20 years of experience researching and investing in the financial markets.  Dr. Dogan is the co-founder and research director of Insider Monkey. He has a Ph.D. in financial economics from University at Buffalo and he has been doing quantitative stock research focusing on insider trading and hedge fund portfolio disclosures.