Saudi Arabia, the most populated country in the Gulf Cooperation Council (GCC), represents the largest education industry in the region. With over 50% of the Kingdom’s 27 Million people below the age of 25, the country’s education sector holds an immense potential. The country is making concrete efforts to develop its education sector at the primary, secondary, and higher levels in order to satiate future knowledge demand. Moreover, its geographically dispersed education infrastructure has proved to be a boon for companies offering e-learning courses and solutions.
According to our latest research report “Saudi Arabia Education Forecast to 2013”, the need and demand for education in the Kingdom continued to witness a rapid growth during the last few years, owing to its slow but steady emergence as a knowledge-based economy. Surging penetration of primary education has constructed a solid platform for developments in higher education industry. We anticipate that the student enrollments in higher education will grow at a CAGR of around 9% during 2010-2014.
The government remains the major contributor to the development of the country’s higher education infrastructure, and is continuously raising the budget to be spent on the education sector. The budget allocation for education and manpower development has reached SR 150 Billion (US$ 39 Billion) in FY 2011 from SR 96.7 Billion (US$ 25.1 Billion) in FY 2007. The sector has been consistently capturing around 25% share in the total budget expenditure which is the highest in the region.
The report finds that there has been a significant increase in the number of students going abroad for higher education. The majority of these students are going to the US. Meanwhile, the Saudi Universities are also collaborating with various international universities to promote higher education in the Kingdom. The study also describes the key factors which make the Saudi Arabian higher education sector highly lucrative for private players looking to enter the market.
“Saudi Arabia Education Forecast to 2013” provides an in-depth research and rational analysis of the current and expected status of the education system in Saudi Arabia. The report facilitates future forecasts on elementary, intermediate, secondary, and higher education segments, focusing on potential student enrollments, staff requirement, and schools during 2011-2014.