The briefing examines how education industry performs globally and in the largest countries in terms of education output. The report also provides data for production, market size, imports, exports, industry’s costs, industry’s profitability and number of companies. The industry and market overview provide benchmarks against other countries globally.
This report comes in PPT.
The COVID-19 pandemic and a shift to online learning have accelerated digital technology adoption in the global education system. Governments’ increasing investments in ICT infrastructure and rapidly-expanding edtech market are set to continuously drive digital transformation in the education industry in the foreseeable future.
The socioeconomic inequalities between the rich and the poor are widening. Lower-income families will continue to face financial hardship and will be forced to limit discretionary spending, including expenditure on education. Moreover, the education achievement gap between students is anticipated to increase further due to distance learning and the digital divide.
The pandemic will create significant fiscal policy challenges in some countries. The unprecedented policy response to the crisis has raised public debt markedly and narrowed the available fiscal space, weighing on long-term fiscal sustainability. As a result, the budgetary allocations to education are expected to remain limited in coming years, exacerbating pre-COVID-19 education funding gaps.
The pandemic and digital transformation in the global economy will continue to transform businesses and labour market needs. Consequently, countries will need to step up their efforts and scale up investment in lifelong learning in coming years.
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