BusinesStat estimates that in 2015 the value of the global market for higher education declined by 4.6% compared with the previous year and reached $ 1,186.3 billion. The decline in the value of the market was caused both by a decrease in the number of students and the average cost of education. It is expected that in 2016 there will be an increase in the value of the global higher education market by 1% compared to 2015 - up to $ 1,198.3 billion.
At the end of 2015, the number of students in universities in the world amounted to 515.9 million people, which was 2.5% lower than the 2014 level. The decrease was due to macroeconomic and political instability, as well as the deterioration of the economic situation in oil-exporting countries. In addition, in many countries of the world, there was a shortage of jobs for specialists with higher education, which led to problems of employment after university studies and a discrepancy between the level of education and the position held.
In 2016, an insignificant increase in the number of students in universities of the world is projected up to 516.7 million people. The growth in the number of students will be supported by the informatization of education, the development of distance technologies and international student mobility. In some cases, higher education abroad can be at a lower cost than at home, or even for free.
The average cost of commercial education in universities in the world in 2015 decreased by 2.3% compared with the previous year and amounted to 3.8 thousand dollars a year. The reduction is due to the redistribution of demand for cheaper educational programs. In addition, a sharp rise in the dollar against the national currencies in a number of countries affected the price movement. This led to the fact that the cost of training in dollars in these countries has decreased with rising prices in terms of national currency.
"Analysis of the global market for higher education in 2011-2015, the forecast for 2016-2020" includes the most important data necessary to understand the current market situation and assess the prospects for its development:
General assessment of the current economic situation in the world
Number of teachers of higher education
Number of students in higher education
The value of the higher education market
The natural volume of the higher education market
Average duration of study
The average price of higher education services
The review provides the following details:
Forms of education: full-time, distance
Types of higher education financing: private, public
Graduate degrees in International Standard Classification of Education: 5, 6
Gender of students: male, female
Directions of study: humanities art; health and welfare; scientific programs; design, production and construction; Agriculture; social sciences, business, law; services sector; other programs.
The information in the review is detailed for the leading countries.
Along with the world market review, BusinesStat offers a review of the Russian higher education market.
In preparing the review used official statistics:
UNESCO Institute for Statistics
Organization for Economic Co-operation and Development
International Standard Classification of Education
United Nations Statistics Division