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FINANCIAL NEWS
Education market in GCC valued at USD60b
19 Jun 2013
(MENAFN) The executive summary report by Kuwait Financial Centre (Markaz) on GCC education sector estimation shows that USD60 billion is the value of the education market in the GCC. 84% is spent by the government while the rest is spent by the private sector, reported Arab News.
In GCC countries, apart from the UAE, the majority of students goes to public institutions rather than private institutions. Despite the free education in public institutions and the fact that primary education is a must in GCC countries, there is a huge amount of unemployment in these countries as graduates lack importnant practical skills and knowledge.
A huge increase in the number of students to inroll in schools in GCC countries is expected since the number of schools in these countries reached 9.1 million in 2011 in comparison with 8.4 million in 2008. 12.5 million is the expected number in 2020.
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