The future prospect for education industry in Philippines is quite optimistic and the key drivers for robust growth of the education industry are surging public expenditure on education, growing disposable income, increasing investments by the government and other foreign and local agencies for the provision of universal access of education and public-private partnership for improved quality of education and educational resources.
The education industry in Philippines constitutes K-12 education, higher education, technical-vocational education, teacher education and training, tutoring, test preparation and others. The K-12 education market contributed a lion’s share of approximately ~% to the overall revenues of the Philippines education industry in 2013. The Philippines education industry grew at a CAGR of about 9.7% over the period 2008-2013, owing to greater participation among government agencies, NGOs, parents, business groups and other communities, which have worked towards exploring and maximizing the use of the available educational resources. Several fund programs for enhancing and broadening the stakeholder participation in providing access to basic education to the Filipinos have been the major factors leading to the growth of this industry.
The Philippines education industry is highly fragmented with the presence of large number of public and private players competing on the basis of course curriculum, tuition fees, infrastructure and other basic services. Some of the major players in the education industry are namely University of the Philippines, Adamson University, De La Salle University, MSA Academic Advancement Institute, AHEAD Tutorial and Review Center and others. Philippines education industry is estimated to register escalating CAGR of 8.5% for the period 2013-2018
According to research report, “Philippines Education Industry Outlook to 2018 – Next Wave of Growth Driven by Test Preparation, Teacher Training and Vocational Training Segment” by Ken Research, “The increasing investments by the government and other foreign and local agencies for the provision of universal access and improved quality of education to the Filipinos is expected to provide a boost to the total number of enrollments in the education industry in Philippines. The trend in education industry such as technology-based teacher training and student learning is predicted to gain traction”.
The report provides detailed overview on education industry in Philippines and helps readers to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants and analysts, educational institutions and the entire education stakeholders to align their market centric strategies according to ongoing and expected trends in future.