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Chinese education market to produce $572bn in 4 years

Chinese education market to produce $572bn in 4 years

Mubasher: Education market in China is expected to generate $572.51 billion by the end of 2023, expanding at a compound annual growth rate (CAGR) of 11.3% from 2018, an industry analysis provider said.

With Chinese urban population rising, household wealth rapidly growing, government ramping up spending, internet users and pre-school enrolments increasing, education market is expected to expand, according to business data platform Researchandmarkets.com’s report “China Education Market.”

Moreover, the market would be boosted by the growing approval of private higher educational institutes in the metropolitan areas, and the rising birth rate in Shanghai and Beijing.

Demand for premium short-term language courses among graduates and post-graduates was also picking up.

That said, challenges lied in growing human capital cost and fierce competition.

The report highlighted increasing tendency towards massive open online courses as well as the rise of dual-teacher model in underserved cities and China’s new education policy.