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Markaz Sector Report 2013
GCC Education
A Multi Generational Enterprise
Research Highlights
Analysing the status of GCC Education Sector, highlighting
current and expected enrollment trends, market-size, challenges
and investment opportunities
MARKAZ SECTOR RESEARCH
GCC Education - January 2013
Kuwait Financial Centre K.P.S.C “Markaz” 2
Disclaimer
This report has been prepared and issued by Kuwait Financial Centre K.P.S.C (Markaz), which is regulated by the Capital Markets Authority
and the Central Bank of Kuwait. The report is owned by Markaz and is privileged and proprietary and is subject to copyrights. Sale of any
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instruments or to participate in any particular trading strategy in any jurisdiction.
The information and statistical data herein have been obtained from sources we believe to be reliable but no representation or warranty,
expressed or implied, is made that such information and data is accurate or complete, and therefore should not be relied upon as such.
Opinions, estimates and projections in this report constitute the current judgment of the author as of the date of this report. They do not
necessarily reflect the opinion of Markaz and are subject to change without notice. Markaz has no obligation to update, modify or amend
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1804800; Fax: 00965 22450647.
Research
Support
M.R. Raghu CFA, FRM | Head of Research
rmandagolathur@markaz.com
Murtaza Pattherwala | Senior Analyst
mpattherwala@markaz.com
Jenevivu Lasrado | Secretary, Research
jlasrado@markaz.com
Nael Aboul Huda | Manager, Media & Communications
naboulhuda@markaz.com
MARKAZ SECTOR RESEARCH
GCC Education - January 2013
Kuwait Financial Centre K.P.S.C “Markaz” 3
Table of Contents
1. Executive Summary.................................................................................. 7
2. GCC Education Sector Overview............................................................... 9
Introduction...........................................................................................9
Structure of Education System in the GCC ................................................9
GCC Education Sector Market Size ......................................................... 12
Public vs. Private Education Institutions.................................................. 13
Private Schools Types by Curriculum ...................................................... 14
Gross Enrollment in the GCC ................................................................. 16
Country-wise Gross Enrollments For Different Levels ............................... 17
3. Pre-primary Level Education in the GCC................................................. 19
Total number of enrollments at pre-primary level.................................... 19
Enrollment forecast .............................................................................. 21
Pre-primary level enrollment’s share of total school students.................... 23
4. Primary Level Education in the GCC ....................................................... 24
Total number of enrollments at primary level.......................................... 24
Enrollment forecast .............................................................................. 26
Primary level enrollment’s share of total school students.......................... 27
5. Secondary Level Education in the GCC ................................................... 28
Total number of enrollments at secodary level ........................................ 28
Enrollment forecast .............................................................................. 30
Secondary level enrollment’s share of total school students...................... 31
6. Tertiary Level Education in the GCC ....................................................... 32
Total number of enrollments at tertiary level........................................... 33
Enrollment forecast .............................................................................. 34
Share of public educational expenditure on tertiary education .................. 35
MARKAZ SECTOR RESEARCH
GCC Education - January 2013
Kuwait Financial Centre K.P.S.C “Markaz” 4
7. Growth Drivers for the GCC Education Sector ........................................ 37
Favorable demographics ....................................................................... 37
Increasing Income................................................................................ 39
Government support and initiatives........................................................ 40
To increase employability...................................................................... 41
Social Needs ........................................................................................ 43
Demand Supply Gap............................................................................. 43
8. Opportunities for Private Sector............................................................. 45
Growing size of education market .......................................................... 45
Opportunities in higher education market ............................................... 46
Government support to private sector .................................................... 46
Growing preferences to enroll in private educational institutions............... 48
Investment in the ICT development for the education sector.................... 49
Private School market witnessing Consolidation and Private Equity Deals .. 50
9. Regulatory Aspect ................................................................................. 52
Constraints for Investors in the private Education Space.......................... 52
Controls on Tuition Fee Hikes ................................................................ 53
Restrictions on Foreign Ownerships of Education Companies.................... 53
Control over Students Enrolment ........................................................... 53
10. Challenges faced by the Sector .............................................................. 55
Low enrollment rates at higher education level ....................................... 55
Imbalance in enrollment among specializations....................................... 55
Shortcomings of Faculty........................................................................ 57
Questionable quality of programs and curricula....................................... 57
High Cost of Establishment.................................................................... 59
Speed of Reforms................................................................................. 61
Need for Better Vocational Training........................................................ 61
MARKAZ SECTOR RESEARCH
GCC Education - January 2013
Kuwait Financial Centre K.P.S.C “Markaz” 5
11. SWOT Analysis……. ................................................................................ 62
Strengths............................................................................................. 62
Weaknesses......................................................................................... 62
Opportunities ....................................................................................... 63
Threats................................................................................................ 63
12. Annexure……………………....................................................................... 65
Appendix 1: Overview of Select Listed Education Companies in the GCC ... 65
Appendix 2: Overview of Select Unlisted Education Companies in the GCC 68
Appendix 3: Key GCC Education Projects in Execution ............................. 71
Appendix 4: United Arab Emirates: Federal Subsidies and transfers, 2003-11
(Millions of U.A.E. Dirhams)................................................................... 74
Appendix 5: Forecasting Methodology .................................................... 75
MARKAZ SECTOR RESEARCH
GCC Education - January 2013
Kuwait Financial Centre K.P.S.C “Markaz” 6
Charts Charts
2.1 GCC Education System Structure 8.1
Growth in total number of students in schools across
the GCC (2012-2020)
2.2 Technical and vocational training enrolment ration 8.2
Current private school spend and parental
willingness to spend (Nationals, By Country; in USD)
2.3 Public spending on education as percentage of GDP 8.3
Current private school spend and parental
willingness to spend (Expatriates, By Country; in
USD)
2.4
Public spending on education as % of total government
expenditure
10.1
Tertiary Gross Enrollment Ratio by Region, 1970 to
2007
2.5 Estimated education market-size in the GCC, 2012 10.2
Distribution of students in higher education in the
GCC by broad fields of study, 2008
2.6 Percentage of students enrolled in public schools 10.3
Distribution of students in higher education by
specialization, 2008
2.7
National vs. expatriate students and type of schools they are
enrolled in
10.4 Pupil- Teacher Ratio (Primary)
2.8 Gross Enrollment Ratio – World, N. America, GCC and MENA 10.5 Quality of Higher Education and Training in the GCC
3.1 Gross enrollment ratio at pre-primary level in the GCC 10.6
Education quality and economic competitiveness –
Primary Education
3.2 Country-wise number of students at pre-primary level, 2011 10.7
Education quality and economic competitiveness –
Higher Education
3.3 Percentage of private enrollments, Pre-primary - 2011 Tables
3.4
Pre-primary level enrollment estimates and forecast for the
GCC – Male (2012-2020)
2.1 Public spending on education (USD)
3.5
Pre-primary level enrollment estimates and forecast for the
GCC – Female (2012-2020)
2.2
Indicative annual private schools fee structure by
education level, (USD)
3.6
Pre-primary level enrollment estimates and forecast for the
GCC – Total (2012-2020)
2.3 Gross Enrollment Ratio by level and countries
3.7
Pre-primary enrollment share of total school students in the
GCC (2012-2020)
2.4
Total school students in each GCC country, 2008-
2011
4.1 Gross enrollment ratio at primary level in the GCC 7.1 Expatriates Population 2010
4.2 Country-wise number of students at primary level, 2011 7.2 Jobs Created and taken up by Nationals, 2000-2010
4.3 Percentage of private enrollments, Primary - 2011 8.1 Major M&A deals in the GCC Education Sector
4.4
Primary level enrollment estimates and forecast for the GCC –
Male (2012-2020)
10.1
International school building costs per m2 of internal
area, 2011
4.5
Primary level enrollment estimates and forecast for the GCC –
Female (2012-2020)
4.6
Primary level enrollment estimates and forecast for the GCC –
Total (2012-2020)
4.7
Primary enrollment share of total school students in the GCC
(2012-2020)
5.1 Gross enrollment rate at secondary level in the GCC
5.2 Country-wise number of students at secondary level, 2011
5.3 Percentage of private enrollments, Secondary - 2011
5.4
Secondary level enrollment estimates and forecast for the GCC
– Male (2012-2015)
5.5
Secondary level enrollment estimates and forecast for the GCC
– Female (2012-2015)
5.6
Secondary level enrollment estimates and forecast for the GCC
– total (2012-2015)
5.7
Secondary enrollment share of total school students in the GCC
(2012-2020)
6.1 Gross enrollment rate at tertiary level in the GCC
6.2 Country-wise number of students at tertirary level, 2007-2011
6.3 Percentage of repeaters in secondary level (avg. 2000-2011)
6.4 Gross outbound enrolment ratio (avg. 2000-2011)
6.5
Public educational expenditure on tertiary education as % of
total public education expenditure
7.1 Population Growth in GCC (Million)
7.2 Population Breakdown in the GCC by Age-group, 2009
7.3 Population Breakdown in the GCC by Age-group, 2020
7.4 Average GDP per Capita (PPP) in USD in GCC Region
7.5 Average GDP per Capita (PPP) USD - 2011
7.6 Number of public schools in the GCC – country-wise (2009)
7.7 Number of private schools in the GCC – country-wise (2009)
MARKAZ SECTOR RESEARCH
GCC Education - January 2013
Kuwait Financial Centre K.P.S.C “Markaz” 7
1. Executive Summary
The demographic structure of Gulf Co-operation Council countries (Saudi
Arabia, United Arab Emirates, Kuwait, Qatar, Oman and Bahrain) is titled
towards young age population, making education an imperative. Even though
the GCC region is blessed with oil resources and wealth, paradoxically it also
suffers from a high level of unemployment, mainly due to disconnect between
skill sets and market needs. The GCC countries have realized this gap and
have effected reforms and established various governing bodies to improve
overall education structure. The GCC governments, on average, spends about
xx% of their GDP on education lesser than xx% of the world average. Saudi
Arabia in particular – spending xx% of GDP on education – is leading the way
by giving a plenty of emphasis to improvements in the education sector.
Generally, all the GCC countries have divided their education system in to four
broad levels: pre-primary, primary, secondary and tertiary. Additionally, there
are vocational training institutes designed specifically to provide job-oriented
skills to students.
Based our estimates, in 2012, the education market in the GCC was worth
USD xx bn. The bulk of spending (xx%) is accounted by the government and
the private sector accounted for a meagre USD xx bn.
Except in the UAE, the majority of students in all other GCC countries are
enrolled in the public institutions – primarily due to free education provided
by the government to nationals. The expatriates enroll in private schools. In
the GCC countries, mainly four types of private schools exists: Arabic,
Bilingual, Western and Asian. Of all, Western schools are most expensive
distantly followed by Bilingual schools. Arabic and Asians schools have more
or less the same tuition fee structure.
The gross enrollment ratio in the GCC at primary and secondary level is
comparable to the ratio in the developed nations. However, at tertiary level
the gross enrollment ratio in the GCC is way lower than the developed
countries, indicating a scope of improvement and work required at this level
of education which is key to preparing students for future workforce.
The GCC
governments, on
average, spends
about xx% of their
GDP on education.
In 2012, the
education market in
the GCC was worth
USD xx bn.
Except in the UAE,
the majority of
students in all other
GCC countries are
enrolled in the public
institutions.
MARKAZ SECTOR RESEARCH
GCC Education - January 2013
Kuwait Financial Centre K.P.S.C “Markaz” 8
The total number of school students (from pre-primary to secondary level)
enrolled in the GCC have increased from xx mn in 2008 to xx mn in 2011 and
expected to reach xx mn by 2020. Qatar has recorded the highest CAGR of
xx% between 2008-2011.
We expect the enrollments at pre-primary level in the GCC to grow from xx
students in 2011 to xx students by 2015 and xx students by 2020. As per our
forecast, the number of enrolled students at primary level (grade 1-6) is likely
to grow to about xx mn by 2015 and reach xx mn by 2020 at an estimated
annual growth rate of xx%. In 2011, there were over xx mn secondary
students enrolled in all the GCC countries. Based on our estimates, the
enrollments at secondary level in the GCC is expected to grow at a CAGR of
xx % between 2012 and 2020, reaching almost xx mn by 2015 and just over
xx mn students by 2020. There were total xx mn students enrolled at tertiary
level in 2011 in the GCC countries.
The GCC education sector benefits from some natural growth drivers like
young demographics; increasing government support and initiatives; rising
disposable income and demand/supply gaps. In 2009, there were a total of
xx public and xx private schools in the GCC countries. With increasing
population, the demand for more and better is certainly to rise.
Additionally, there will be worthwhile investment opportunities in this sector
as demand for better higher education institutes increases, government
extends its support to private players and growing preferences of students to
enroll in private education institutes. However, there remains certain
challenges in the form of teachers quality, low enrollments at higher education
level, imbalance in enrollment among specializations and questionable quality
of existing curricula. In addition, the bureaucratic hurdles to establishing and
running a school further adds to the woes. Despite challenges, the overall
education sector in the GCC is likely to witness growth and progress.
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The total number of
school students
enrolled in the GCC
have increased from
xx mn in 2008 to xx
mn in 2011.
In 2009, there were a
total of xx public and
xx private schools in
the GCC countries.
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GCC Education Research Report - Sector Research

  • 1. Markaz Sector Report 2013 GCC Education A Multi Generational Enterprise Research Highlights Analysing the status of GCC Education Sector, highlighting current and expected enrollment trends, market-size, challenges and investment opportunities
  • 2. MARKAZ SECTOR RESEARCH GCC Education - January 2013 Kuwait Financial Centre K.P.S.C “Markaz” 2 Disclaimer This report has been prepared and issued by Kuwait Financial Centre K.P.S.C (Markaz), which is regulated by the Capital Markets Authority and the Central Bank of Kuwait. The report is owned by Markaz and is privileged and proprietary and is subject to copyrights. Sale of any copies of this report is strictly prohibited. This report cannot be quoted without the prior written consent of Markaz. . Any user after obtaining Markaz permission to use this report must clearly mention the source as “Markaz “. The report is intended to be circulated for general information only and should not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy in any jurisdiction. The information and statistical data herein have been obtained from sources we believe to be reliable but no representation or warranty, expressed or implied, is made that such information and data is accurate or complete, and therefore should not be relied upon as such. Opinions, estimates and projections in this report constitute the current judgment of the author as of the date of this report. They do not necessarily reflect the opinion of Markaz and are subject to change without notice. Markaz has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate, or if research on the subject company is withdrawn. This report may not consider the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors are urged to seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and to understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Investors should be able and willing to accept a total or partial loss of their investment. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily indicative of future performance. Kuwait Financial Centre K.P.S.C (Markaz) may seek to do business, including investment banking deals, with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. This report may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the report refers to website material of Markaz, Markaz has not reviewed the linked site and takes no responsibility for the content contained therein. Such address or hyperlink (including addresses or hyperlinks to Markaz’s own website material) is provided solely for your convenience and information and the content of the linked site does not in any way form part of this document. Accessing such website or following such link through this report or Markaz’s website shall be at your own risk. For further information, please contact ‘Markaz’ at P.O. Box 23444, Safat 13095, Kuwait; Email: research@markaz.com ; Tel: 00965 1804800; Fax: 00965 22450647. Research Support M.R. Raghu CFA, FRM | Head of Research rmandagolathur@markaz.com Murtaza Pattherwala | Senior Analyst mpattherwala@markaz.com Jenevivu Lasrado | Secretary, Research jlasrado@markaz.com Nael Aboul Huda | Manager, Media & Communications naboulhuda@markaz.com
  • 3. MARKAZ SECTOR RESEARCH GCC Education - January 2013 Kuwait Financial Centre K.P.S.C “Markaz” 3 Table of Contents 1. Executive Summary.................................................................................. 7 2. GCC Education Sector Overview............................................................... 9 Introduction...........................................................................................9 Structure of Education System in the GCC ................................................9 GCC Education Sector Market Size ......................................................... 12 Public vs. Private Education Institutions.................................................. 13 Private Schools Types by Curriculum ...................................................... 14 Gross Enrollment in the GCC ................................................................. 16 Country-wise Gross Enrollments For Different Levels ............................... 17 3. Pre-primary Level Education in the GCC................................................. 19 Total number of enrollments at pre-primary level.................................... 19 Enrollment forecast .............................................................................. 21 Pre-primary level enrollment’s share of total school students.................... 23 4. Primary Level Education in the GCC ....................................................... 24 Total number of enrollments at primary level.......................................... 24 Enrollment forecast .............................................................................. 26 Primary level enrollment’s share of total school students.......................... 27 5. Secondary Level Education in the GCC ................................................... 28 Total number of enrollments at secodary level ........................................ 28 Enrollment forecast .............................................................................. 30 Secondary level enrollment’s share of total school students...................... 31 6. Tertiary Level Education in the GCC ....................................................... 32 Total number of enrollments at tertiary level........................................... 33 Enrollment forecast .............................................................................. 34 Share of public educational expenditure on tertiary education .................. 35
  • 4. MARKAZ SECTOR RESEARCH GCC Education - January 2013 Kuwait Financial Centre K.P.S.C “Markaz” 4 7. Growth Drivers for the GCC Education Sector ........................................ 37 Favorable demographics ....................................................................... 37 Increasing Income................................................................................ 39 Government support and initiatives........................................................ 40 To increase employability...................................................................... 41 Social Needs ........................................................................................ 43 Demand Supply Gap............................................................................. 43 8. Opportunities for Private Sector............................................................. 45 Growing size of education market .......................................................... 45 Opportunities in higher education market ............................................... 46 Government support to private sector .................................................... 46 Growing preferences to enroll in private educational institutions............... 48 Investment in the ICT development for the education sector.................... 49 Private School market witnessing Consolidation and Private Equity Deals .. 50 9. Regulatory Aspect ................................................................................. 52 Constraints for Investors in the private Education Space.......................... 52 Controls on Tuition Fee Hikes ................................................................ 53 Restrictions on Foreign Ownerships of Education Companies.................... 53 Control over Students Enrolment ........................................................... 53 10. Challenges faced by the Sector .............................................................. 55 Low enrollment rates at higher education level ....................................... 55 Imbalance in enrollment among specializations....................................... 55 Shortcomings of Faculty........................................................................ 57 Questionable quality of programs and curricula....................................... 57 High Cost of Establishment.................................................................... 59 Speed of Reforms................................................................................. 61 Need for Better Vocational Training........................................................ 61
  • 5. MARKAZ SECTOR RESEARCH GCC Education - January 2013 Kuwait Financial Centre K.P.S.C “Markaz” 5 11. SWOT Analysis……. ................................................................................ 62 Strengths............................................................................................. 62 Weaknesses......................................................................................... 62 Opportunities ....................................................................................... 63 Threats................................................................................................ 63 12. Annexure……………………....................................................................... 65 Appendix 1: Overview of Select Listed Education Companies in the GCC ... 65 Appendix 2: Overview of Select Unlisted Education Companies in the GCC 68 Appendix 3: Key GCC Education Projects in Execution ............................. 71 Appendix 4: United Arab Emirates: Federal Subsidies and transfers, 2003-11 (Millions of U.A.E. Dirhams)................................................................... 74 Appendix 5: Forecasting Methodology .................................................... 75
  • 6. MARKAZ SECTOR RESEARCH GCC Education - January 2013 Kuwait Financial Centre K.P.S.C “Markaz” 6 Charts Charts 2.1 GCC Education System Structure 8.1 Growth in total number of students in schools across the GCC (2012-2020) 2.2 Technical and vocational training enrolment ration 8.2 Current private school spend and parental willingness to spend (Nationals, By Country; in USD) 2.3 Public spending on education as percentage of GDP 8.3 Current private school spend and parental willingness to spend (Expatriates, By Country; in USD) 2.4 Public spending on education as % of total government expenditure 10.1 Tertiary Gross Enrollment Ratio by Region, 1970 to 2007 2.5 Estimated education market-size in the GCC, 2012 10.2 Distribution of students in higher education in the GCC by broad fields of study, 2008 2.6 Percentage of students enrolled in public schools 10.3 Distribution of students in higher education by specialization, 2008 2.7 National vs. expatriate students and type of schools they are enrolled in 10.4 Pupil- Teacher Ratio (Primary) 2.8 Gross Enrollment Ratio – World, N. America, GCC and MENA 10.5 Quality of Higher Education and Training in the GCC 3.1 Gross enrollment ratio at pre-primary level in the GCC 10.6 Education quality and economic competitiveness – Primary Education 3.2 Country-wise number of students at pre-primary level, 2011 10.7 Education quality and economic competitiveness – Higher Education 3.3 Percentage of private enrollments, Pre-primary - 2011 Tables 3.4 Pre-primary level enrollment estimates and forecast for the GCC – Male (2012-2020) 2.1 Public spending on education (USD) 3.5 Pre-primary level enrollment estimates and forecast for the GCC – Female (2012-2020) 2.2 Indicative annual private schools fee structure by education level, (USD) 3.6 Pre-primary level enrollment estimates and forecast for the GCC – Total (2012-2020) 2.3 Gross Enrollment Ratio by level and countries 3.7 Pre-primary enrollment share of total school students in the GCC (2012-2020) 2.4 Total school students in each GCC country, 2008- 2011 4.1 Gross enrollment ratio at primary level in the GCC 7.1 Expatriates Population 2010 4.2 Country-wise number of students at primary level, 2011 7.2 Jobs Created and taken up by Nationals, 2000-2010 4.3 Percentage of private enrollments, Primary - 2011 8.1 Major M&A deals in the GCC Education Sector 4.4 Primary level enrollment estimates and forecast for the GCC – Male (2012-2020) 10.1 International school building costs per m2 of internal area, 2011 4.5 Primary level enrollment estimates and forecast for the GCC – Female (2012-2020) 4.6 Primary level enrollment estimates and forecast for the GCC – Total (2012-2020) 4.7 Primary enrollment share of total school students in the GCC (2012-2020) 5.1 Gross enrollment rate at secondary level in the GCC 5.2 Country-wise number of students at secondary level, 2011 5.3 Percentage of private enrollments, Secondary - 2011 5.4 Secondary level enrollment estimates and forecast for the GCC – Male (2012-2015) 5.5 Secondary level enrollment estimates and forecast for the GCC – Female (2012-2015) 5.6 Secondary level enrollment estimates and forecast for the GCC – total (2012-2015) 5.7 Secondary enrollment share of total school students in the GCC (2012-2020) 6.1 Gross enrollment rate at tertiary level in the GCC 6.2 Country-wise number of students at tertirary level, 2007-2011 6.3 Percentage of repeaters in secondary level (avg. 2000-2011) 6.4 Gross outbound enrolment ratio (avg. 2000-2011) 6.5 Public educational expenditure on tertiary education as % of total public education expenditure 7.1 Population Growth in GCC (Million) 7.2 Population Breakdown in the GCC by Age-group, 2009 7.3 Population Breakdown in the GCC by Age-group, 2020 7.4 Average GDP per Capita (PPP) in USD in GCC Region 7.5 Average GDP per Capita (PPP) USD - 2011 7.6 Number of public schools in the GCC – country-wise (2009) 7.7 Number of private schools in the GCC – country-wise (2009)
  • 7. MARKAZ SECTOR RESEARCH GCC Education - January 2013 Kuwait Financial Centre K.P.S.C “Markaz” 7 1. Executive Summary The demographic structure of Gulf Co-operation Council countries (Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Oman and Bahrain) is titled towards young age population, making education an imperative. Even though the GCC region is blessed with oil resources and wealth, paradoxically it also suffers from a high level of unemployment, mainly due to disconnect between skill sets and market needs. The GCC countries have realized this gap and have effected reforms and established various governing bodies to improve overall education structure. The GCC governments, on average, spends about xx% of their GDP on education lesser than xx% of the world average. Saudi Arabia in particular – spending xx% of GDP on education – is leading the way by giving a plenty of emphasis to improvements in the education sector. Generally, all the GCC countries have divided their education system in to four broad levels: pre-primary, primary, secondary and tertiary. Additionally, there are vocational training institutes designed specifically to provide job-oriented skills to students. Based our estimates, in 2012, the education market in the GCC was worth USD xx bn. The bulk of spending (xx%) is accounted by the government and the private sector accounted for a meagre USD xx bn. Except in the UAE, the majority of students in all other GCC countries are enrolled in the public institutions – primarily due to free education provided by the government to nationals. The expatriates enroll in private schools. In the GCC countries, mainly four types of private schools exists: Arabic, Bilingual, Western and Asian. Of all, Western schools are most expensive distantly followed by Bilingual schools. Arabic and Asians schools have more or less the same tuition fee structure. The gross enrollment ratio in the GCC at primary and secondary level is comparable to the ratio in the developed nations. However, at tertiary level the gross enrollment ratio in the GCC is way lower than the developed countries, indicating a scope of improvement and work required at this level of education which is key to preparing students for future workforce. The GCC governments, on average, spends about xx% of their GDP on education. In 2012, the education market in the GCC was worth USD xx bn. Except in the UAE, the majority of students in all other GCC countries are enrolled in the public institutions.
  • 8. MARKAZ SECTOR RESEARCH GCC Education - January 2013 Kuwait Financial Centre K.P.S.C “Markaz” 8 The total number of school students (from pre-primary to secondary level) enrolled in the GCC have increased from xx mn in 2008 to xx mn in 2011 and expected to reach xx mn by 2020. Qatar has recorded the highest CAGR of xx% between 2008-2011. We expect the enrollments at pre-primary level in the GCC to grow from xx students in 2011 to xx students by 2015 and xx students by 2020. As per our forecast, the number of enrolled students at primary level (grade 1-6) is likely to grow to about xx mn by 2015 and reach xx mn by 2020 at an estimated annual growth rate of xx%. In 2011, there were over xx mn secondary students enrolled in all the GCC countries. Based on our estimates, the enrollments at secondary level in the GCC is expected to grow at a CAGR of xx % between 2012 and 2020, reaching almost xx mn by 2015 and just over xx mn students by 2020. There were total xx mn students enrolled at tertiary level in 2011 in the GCC countries. The GCC education sector benefits from some natural growth drivers like young demographics; increasing government support and initiatives; rising disposable income and demand/supply gaps. In 2009, there were a total of xx public and xx private schools in the GCC countries. With increasing population, the demand for more and better is certainly to rise. Additionally, there will be worthwhile investment opportunities in this sector as demand for better higher education institutes increases, government extends its support to private players and growing preferences of students to enroll in private education institutes. However, there remains certain challenges in the form of teachers quality, low enrollments at higher education level, imbalance in enrollment among specializations and questionable quality of existing curricula. In addition, the bureaucratic hurdles to establishing and running a school further adds to the woes. Despite challenges, the overall education sector in the GCC is likely to witness growth and progress. Cost of the full report: $500 For payment details please write to: info@e-marmore.com Or Kindly use our online payment gateway at www.e-marmore.com The total number of school students enrolled in the GCC have increased from xx mn in 2008 to xx mn in 2011. In 2009, there were a total of xx public and xx private schools in the GCC countries.
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