With a shared vision of creating a brighter future for the next generation, the British Council and HSBC are pleased to announce a strategic partnership to support the international educational ambition of young people with a focus on unlocking their potential through education and cultural exchange.
The partnership encompasses a spectrum of activity, spanning student mobility and recruitment, expanded avenues for English language acquisition, and enhanced exposure to the realms of arts and culture. Its overarching aim is to empower young individuals, enabling them to create networks, unleash their creativity, enhance their English communication skills, access high-quality education and obtain globally recognised qualifications and evolve into the most exceptional versions of themselves.
As part of the partnership, HSBC will support a series of British Council events, including:
- HSBC Premier Academy – University of Oxford Taster Programme & Imperial College London Exploration Camp.
- HSBC Premier x British Council Study UK Event Series – a series of online and offline events with industry experts to share tips on preparing children for their UK studies.
- SPARK III – a three-day festival of ideas will be held at AIRSIDE from 18 to 20 October, which is a space for debate, inspiration and visionary thinking, offering a platform for collaboration and cultural exchange between Hong Kong and the UK – encompassing arts, education, science and the English language.
- IELTS and English Course Discount – exclusive 12 per cent off for selected British Council courses, including IELTS Coach for Teens courses, IELTS Preparation Course and English courses for all secondary students.
“The pursuit of global education for children is a serious undertaking, both financially and from a planning perspective. Currency fluctuations, tuition fees, and travel expenses all contribute to the significant financial commitment. Parents need to help their children to prepare for fierce competition for admission to top universities,” said Brian Hui, Head of Customer Propositions and Marketing, Wealth and Personal Banking, Hong Kong, HSBC. “Alongside our wealth planning service to assist customers in preparing the necessary funding, we are expanding our offerings by partnering with the British Council, which enables us to provide even more comprehensive guidance and access to invaluable resources for our customers and their children. It is particularly beneficial for those considering education in the UK, a popular destination among our clientele.”
“At the British Council, we focus on building trust and understanding; we achieve this by working with partners to provide young people with the skills and education they need to succeed and develop into the most exceptional version of themselves. Our partners are the key to enhancing the reach and impact of that work,” said Scott McDonald, CEO of the British Council. “As we celebrate our 90th birthday this year, we are thrilled to be partnering with HSBC in Hong Kong. This is part of a much broader range of collaborations between the British Council and HSBC that stretches back over a decade, across four continents and more than thirty countries. I look forward to more collaborations with HSBC in the future.”
The flagship programme to be launched under this strategic partnership is SPARK, the British Council’s festival of ideas, sponsored by HSBC. SPARK is a place for debate, inspiration and visionary thinking, offering a platform for collaboration and cultural exchange between Hong Kong and the UK – encompassing arts, education, science and the English language. Entitled SPARK: Healthy Futures, this third edition of the festival, held at AIRSIDE from 18 – 20 October 2024, will explore the meaning and manifestations of health and well-being.
“SPARK is a British Council signature festival. Everyone is welcome at SPARK. But we are especially keen to engage with the younger generation, our innovators and leaders of tomorrow,” said Susannah Morley, Director of the British Council Hong Kong. “Themed around Healthy Futures, SPARK III features interactive experiences, provocative performances, stimulating talks and other innovative happenings during the three-day festival. I would like to express my gratitude to HSBC for its support of SPARK and our wider work in Hong Kong, we are thrilled to be starting this exciting adventure with the HSBC team.”
SPARK III will comprise around 20 programmes developed in collaboration with over 20 creative partners across the arts, education, science and the English language. Highlights include an experience themed ‘How to Change the World by Doing Nothing’ created by Fevered Sleep, a UK performing arts company, in collaboration with West Kowloon Cultural District; ‘Music Therapy and Me’, jointly created by Anglia Ruskin University, UK and Education University Hong Kong, which uses VR to bring to life the health benefits of music and raise awareness of its scientifically proven therapeutic effects; and two contemporary dance companies, Casson and Friends from the UK and Unlock Dancing Plaza from Hong Kong, will work together to create a participatory dance event for AIRSIDE visitors.
This strategic partnership between HSBC and the British Council represents a significant step forward in creating a positive impact on the lives of young people. By combining their extensive knowledge, experience, and global networks, both organisations are poised to play a pivotal role in supporting young people to realise their potential.
At the kickoff ceremony of the partnership, HSBC also revealed key findings from an online survey1 conducted with Hong Kong parents whose children are studying or are planning to study in the UK. The survey examined the crucial factors parents need to consider in their education plan. Accordingly, more than half of the surveyed parents prefer their children to commence their education in the UK when they are in primary or junior secondary school, indicating a 10 per cent increase from last year.
In this era where education extends beyond academic pursuits, two-thirds of the respondents expressed their interest for their children to participate in extracurricular or experiential activities during their overseas education, with the expectation to help them discover their diverse potential and pursue multifaceted development. In addition to music and sports activities, 40 per cent of the respondents expect their children to have exposure through cultural exchange. On average, they expect extracurricular activities to cost approximately HKD370,000 throughout their children’s overseas study.
Looking into the total costs, parents on average earmarked HKD3.6 million per child to complete their studies in the UK over a period of 7.1 years. This includes tuition fees and living expenses amounting to HKD2.9 million, 10 per cent higher than last year. Moreover, parents budgeted HKD700,000 for other costs such as pre-departure preparations, inflation and exchange fluctuations, and their own travel expenses.
Renee Yung, Head of Customer Propositions, Wealth and Personal Banking, Hong Kong, HSBC, concludes, “Overall, parents on average earmarked HKD3.6 million per child to complete their studies for a 7.1-year UK education. This includes tuition fees, living expenses & extracurricular activities amounting to HKD2.9 million. Concerningly, over 60 per cent of respondents lack sufficient savings to finance their children’s overseas education, underscoring the importance of early financial preparation.”