How much will Singapore's smart nation dream cost?

Spending on education to equip students with digital skills has already doubled.

Bloomberg Markets reported that the government spending on education has doubled since 2005 to S$12.9b ($9.3b) this year, or 17 percent of its total budget. That’s not only to pay for teachers and better infrastructure, but also subsidies for Singaporean students.

The city-state boasts one of the best education systems in the world and as the government tries to transform the economy into a high-tech hub — part of its "Smart Nation" program — it’s putting heavy emphasis on equipping students with skills for a digital economy.

The city-state is the third most-expensive place in the world to educate a child — trailing only Hong Kong and the United Arab Emirates. Parents budget $70,939 for schooling from primary through tertiary level, according to a survey by HSBC Holdings Plc published in June.

Read the rest of the story from Bloomberg here.