GEMS of Education
Despite its indispensability education is a luxury for many even today, especially in third-world countries. As per a UNESCO report released last year, the number of out-of-school children and youth has risen by 6 million since 2021 to 258 million. The Director-General of UNESCO has called on nations to implement effective measures on a war footing, since the result is not in line with its educational goals. This increase in out-of-school children is partly due to the mass exclusion of girls and young women from education in Afghanistan, as well as due to the continuing stagnation in educational progress across the world. Although more fortunate children have access to education, over 617 million lack basic literacy and numeracy skills. The closure of schools worldwide, due to the global pandemic in 2021 dealt a heavy blow to education, causing learning losses and rising inequality even in wealthy nations.
Traditional schooling's primary objective is to assess student progress. As per the International Journal of Social and Management Studies, failure to provide proper education will engender social issues, including unemployment, crime and drug abuse. Besides, in several ways the government relies upon the education system for achieving economic progress and drawing support for scientific and technological developments. Educated people can substantially contribute to their families and society, creating a stable and useful community. Therefore, education is vital both to society and individuals.
Investing in education pays off in the long run. It may even take a generation to reap the benefits of dedication of teachers, effective technology use, and quality education system. As per the World Bank, countries with rapid growth and prosperity all took education seriously and implemented it through wise policies. An educated society comprises enlightened people who can make well-informed choices for its social, political and economic welfare. Therefore, education can ensure social justice, economic strength and political freedom; but in the absence of education society mostly remains backward.
Considering the importance and benefits of education for the then budding economy of the Emirates and expatriate families Sunny Varkey's parents set up Our Own English High School in Dubai in 1968. The school was later taken over by Sunny Varkey in 1980, at age 23, when local authorities demanded it should be a purpose-built facility. He is the founder and executive chairman of GEMS Education, which is today the largest operator of private kindergarten-to-grade-12 schools in the world, with a network of more than 80 schools in over a dozen countries.
Sunny Varkey's Early Days
Born in 1957 in Ranni, Kerala, India, Sunny Varkey’s parents who were educators belonged to Kerala's Syrian Christian community. His father secured employment in Dubai at the British Bank of the Middle East (now HSBC Bank Middle East) in 1959. Initially, his parents taught English to the emirati and royal family's children.
When Sunny was four years old, his parents sent him to Kerala to attend Infant Jesus Anglo-Indian Boys School, a Catholic boarding school in Kollam. As an eleven-year-old he sold fruits on a sidewalk to make a bit extra money, which gave a glimpse of his enterprising spirit. In 1970, he and his elder sister returned to Dubai, and he continued his studies at St. Mary's Catholic High School. After the completion of O-Levels, he pursued his A-Levels at Bembridge School in the UK for a year, though he completed his education in Dubai later at the British Council. He began his career at Standard Chartered Bank. Thereafter, he opened a small trading company and also became part-owner of the Dubai Plaza Hotel. He also made a foray into the healthcare industry.
However, he soon wound up all his business operations to focus on the school that was founded by his parents. The Emirates education required expansion, since local schools were only for native Arabs. The ever-increasing children of expatriate families needed quality education. Initially, as per the requirement of authorities he took over Our Own English School in Dubai. Over the years, he established Indian, Pakistani and British schools, offering education under the different curricula, including Indian (CBSE and ICSE), US, British and later International Baccalaureate. Both his parents were educators, and they instilled in him a passion for learning and a commitment to education.
GEMS' Expansion
Under Sunny Varkey's stewardship, GEMS Education has grown significantly. By the 1990s, the group was operating multiple schools in the UAE.
What has been his business strategy? His strategy has been to provide high-quality education at different price points, thereby allowing GEMS to cater to a wide range of families. The exponential growth the group has mainly been the result of Sunny Varkey's vision and business acumen. By building a strong brand known for quality education, he set GEMS apart from other educational institutions. The expansion of the educational institutions continued into the 2000s, making GEMS a global brand, with the distinction of being the world's largest operator of K-12 schools. The group owned 60 schools in the UAE and around 250 globally by the 2000s.
In 2019, GEMS Education secured CVC Capital Partners as a key investor, giving the group the financial boost. The investment highlighted the confidence that major investors had in Varkey’s vision, which allowed GEMS to further expand and improve its services. In 2016, Forbes listed Sunny Varkey in its ‘Global Game Changers’ list in recognition of his contributions to the global education sector. It acknowledged his innovative approach and significant contributions. The Forbes listing brought international attention to his work, besides validating his efforts to improve education worldwide.
Under Sunny Varkey's stewardship, GEMS Education has grown significantly. By the 1990s, the group was operating multiple schools in the UAE. What has been his business strategy? His strategy has been to provide high-quality education at different price points, thereby allowing GEMS to cater to a wide range of families. The exponential growth the group has achieved mainly been the result of Sunny Varkey's vision and business acumen. By building a strong brand known for quality education, he set GEMS apart from other educational institutions. The expansion of the educational institutions continued into the 2000s, making GEMS a global brand, with the distinction of being the world's largest operator of K-12 schools. The group has 60 schools in the UAE and around 250 globally by the 2000s.
In 2019, CVC Capital Partners became a key investor in GEMS Education, giving the group a financial boost. The investment highlighted the confidence that major investors had in Varkey’s vision, which allowed GEMS to further expand and improve its services. In 2016, Forbes listed Sunny Varkey in its ‘Global Game Changers’ list for his impact on the global education sector. It acknowledged his innovative approach and significant contributions. The Forbes listing brought international attention to his work, besides validating his efforts to improve education worldwide.
Family Ties
Sunny Varkey is married to Shirley Varkey, and they live in Dubai, UAE. He has two sons, Dino and Jay, who have leadership positions in GEMS Education. Since the educational institutions are now run by his sons, he has been focusing more on his philanthropic foundation. His sister, Susan Mathews, runs pre-schools, while his wife and mother have been part of GEMS Education as advisers.
Sunny Varkey, whose estimated net worth is $4.1 billion as of 2024, plans to expand GEMS Education further across new markets incorporating innovative educational models. As part of his quest for improvement and growth he has been exploring new technologies and teaching methods. His forward-thinking approach has kept GEMS at the forefront of education, ensuring that the group continues to grow and scales further heights.
GEMS schools are known for their strong community involvement and support, which help to build a sense of community and belonging among students and families. The school’s involvement in the community also enhances students social values.
Awards And Recognitions
- Global Indian Business Award (2007).
- CEO Middle East Award – Corporate Social Responsibility (2007).
- Outstanding Asian Businessman of the Year (2007).
- Rajiv Gandhi Award for Eminent Educationist (2008).
- Padma Shri Award (2009).
- Honorary Order – Public Recognition award from the Government of Russia (2011).
- Middle East Excellent CEO of the Year – Knowledge Development and Education Partnership (2012).
- UNESCO Goodwill Ambassador (2012).
- Education Business Leader of the Year, Gulf Business Industry Awards (2012).
- Honorary Doctorate, Heriot-Watt University (2012).
- Entrepreneur of the Year, The Asian Awards (2018).
Sunny Varkey has invested heavily in educational technology to enhance learning experiences, which helps to make learning more interactive and engaging. By blending technology with education he helps students prepare for the future. The focus on technology keeps GEMS schools modern and innovative. Sunny Varkey's life is a testament to the power of combining passion with hard work, which leads to extraordinary success.
(Photos: Courtesy GEMS Foundation)
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