Education spending per student in Iceland

This indicator measures spending on educational institutions per student, from primary to tertiary education. Spending covers both public and private educational institutions, all types of expenditure, and all funding sources: government, private sources (households and other non-educational private entities), and funds from the rest of the world. Student numbers are expressed as full-time equivalents (FTE), so part-time students are converted into an equivalent number of full-time students.
Values are expressed in constant 2020 international dollars. Constant means that the figures are adjusted for inflation, allowing comparisons over time. International dollars are based on Purchasing Power Parities (PPPs), which adjust for differences in price levels across countries. This makes the indicator useful for comparing the real resources devoted to education per student across countries and over time.