Can Harrow School survive Britain's millionaire exodus?

One of the world's most prestigious boarding schools is expanding globally as UK wealth dries up and taxes soar.

By ·

Sep 22, 2026

15 cards · 3m · tap to begin

From · · · 3m

Can Harrow School survive Britain's millionaire exodus?

One of the world's most prestigious boarding schools is expanding globally as UK wealth dries up and taxes soar.

In brief

One of the world's most prestigious boarding schools is expanding globally as UK wealth dries up and taxes soar. Harrow School is betting its future on international expansion because wealthy British families can no longer afford its 66,000-pound annual fees. Originally reported by Vanity Fair.

A 450-year legacy in peril

Image may contain Hourglass Architecture Building and Person

Harrow School, founded in 1572, educated Winston Churchill and six other British prime ministers. Now it faces an existential crisis as the UK's wealthiest residents flee.

The tax shock that changed everything

In January 2025, the Labour government imposed a 20% VAT on private school tuition. Harrow's annual fees jumped to 65,970 pounds, nearly double the UK median salary of 39,039 pounds.

Millionaires are leaving Britain

The UK scrapped its non-dom tax regime in April 2025, allowing wealthy residents to avoid British taxes on overseas income. An estimated 442,000 millionaires remain, down from over one million in 2020.

Private schools are closing fast

Private schools are closing fast

Since January 2025, UK private schools have lost 30,000 pupils and about 100 independent schools have shut down entirely. The sector is in freefall.

International students now dominate

Harrow reports 20% of students come from overseas. One alumnus estimates the real figure is closer to 50%, a dramatic shift from when international students were rare.

The global licensing strategy

Harrow operates 18 international schools across seven countries and 14 cities. These schools generated 5.9 million pounds in net income for the main school in 2024-2025.

Asia is Harrow's stronghold

Harrow's brand is particularly strong in Asia, with 12 schools operated by AISL: 10 in China, one in Japan, and one in Bangkok, which opened in 1998.

Expansion into the Middle East

In 2024, Harrow announced a deal with Taaleem to open six schools across Saudi Arabia, the UAE, Bahrain, Oman, Qatar, and Kuwait.

The ambitious New York gamble

Harrow New York opened on a 170-acre oceanfront property in Oakdale, Long Island in September 2025. The school invested 100 million pounds but enrolled only five to eight students per grade.

A historic mansion, few students

The campus features a mansion built between 1897 and 1900 for Frederick Gilbert Bourne, president of Singer sewing machines. But demand remains strikingly low.

Why New York families aren't interested

Educational advisors say New York families want established local schools like Horace Mann or Spence, not a British import. Harrow New York already cut fees to 50,544 pounds for day students.

A fundamental mismatch

Harrow School is boys-only and teaches A-levels. Harrow New York is co-ed and offers the International Baccalaureate. The schools share little beyond the name.

A cautionary tale from London

Wetherby-Pembridge, a London school hybrid, opened in New York in 2017 with a 45,000-pound tuition. It closed in 2023 after failing to attract enough students, despite a headmistress from the original school.

Even alumni can't afford it anymore

A Harrow alumnus who became an investment banker wanted to send his sons to Harrow but couldn't justify the cost. He chose London day schools instead, calling the fees ridiculous.

“I just couldn't afford it. And that's ridiculous.”

A school betting on survival

Harrow is pursuing alternative revenue through summer programs, event rentals, and a partnership with Downe House girls' school. But international licensing remains its best hope.

What it means

Harrow School is betting its future on international expansion because wealthy British families can no longer afford its 66,000-pound annual fees.

Read the original on Vanity Fair

React

Sign in to react and comment.

Comments (0)

Life is short. Keep it sweet. Respect others' opinions and be kind!

    Recommended next

    More decks on harrow school and related topics.