The same in the US. New York City spends more per student than anywhere else in the US (https://www.silive.com/news/2019/06/how-much-does-new-york-c...). Baltimore, an incredibly poor and run-down city, spends the third most. #4-6 and #8 are all wealthy suburbs of Washington DC, but their schools are all far better than those of Baltimore or NYC (on average), despite Baltimore spending slightly more per student and NYC spending 60-70% more.
As you say, parents taking interest in their children's education is far more important than money spent.