UAE’s Educational sector is one of the developing areas, with beneficial government guidelines, campaigns like “Leave no one behind” to boost literacy rate and create a better future for the upcoming generations. The country’s population is on the raise at a CAGR of 2.6% since 2012, the school age populace below the age bracket of 25 was recorded at 12.9 million in 2017 and expected to reach 14.5 million in 2022. A constant upsurge in the school population is the crucial factor for increase in demand in the nation’s education market.
UAE maintaining an economically stable environment, introduced 100% FDI outside the free zones and a long term residency visa to drive additional foreign investment into the country. Apart from the relief for the tutelage investors, the government also has prioritized education sector and allotted DH10.4 billion ($2.83 billion) in the recent budget for high quality education. UAE has also released various strategic educational campaigns such as “Education 2020 Strategy” – a five year plan to include innovative and interactive learning programs for pupils, modern teachers’ codes, newly improved evaluation systems for students and a completely new curriculum for the next generation.
The private educational firms are swiftly emerging in UAE with unique educational portfolios driven by the need for eminent educational establishments in the country. In 2018, 13 private educational institutions started their operations in Dubai. However, more than 175,000 spaces might be needed just in the K-12 division in the upcoming four years, to fulfill this huge gap in school admissions reputed institutions are coming up in the Emirates.
With the oil prices shooting up, increase in the peoples disposable income and awareness about the quality education, UAE parents are preferring private school curriculum to improve the next generation dynamic skills. The number of pupils taking admission in private schools is projected to overflow compared to the public schools. By 2022, the Pre-K or early childhood education is also anticipated to increase at a faster rate than the primary and secondary segments which are expected to grow just moderately.
According to the Global Competitiveness Index, education was the significant element in driving competitiveness, UAE has been ranked in the top 20 globally and remains as the most competitive country to accelerate change in the educational psychology in the Arab world. The Ministry of Education, UAE is encouraging usage of computers, tablets and latest technology in schools to nurture the development opportunities. UAE also announced laws to support the education and schooling services for pupils with special needs and safeguard their equality rights to compete in the future.
UAE educational market is a boon to the investors gaining persistent and sustainable returns in addition to marking the highest ever growth trend in this sector. Spectrum provides accounting and audit services in education sector and offers compliance and consulting works including legal and regulatory requirements in the education department
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