NVI Technical College Information

Market Feasibility

programs with online alternatives. Rebounding economic activity

As a result, demand for vocational education rises when the

has brought down unemployment in the pandemic's aftermath,

government provides more funds to vocational education providers.

muting revenue growth as many workers have had a lessened need

to upgrade their resumes.

The rise of online learning as an augmentation to in-person training

has helped trade and technical schools cut expenses, keeping profit

Revenue has climbed at a CAGR of 0.4% to $16.5 billion over the

historically high in spite of revenue volatility.

past five years, including a 0.7% decline in 2023 alone.

A

Over the next five years, a rise in unemployment is set to bolster

Per capita disposable income has risen through most of the past five

demand for vocational education as job seekers look to education

years, boosting interest in vocational education as it becomes

when the labor market weakens. Rising technological innovation

affordable to more households.

across many sectors will spur demand for further training from older

employees in evolving fields.

Strong growth in government funding has further enhanced

vocational education's affordability by providing loans that reduce

The aging population will increase demand for medical technicians

the financial burden of postsecondary education. As most vocational

and nurses in hospitals and nursing homes, supporting demand for

schools are nonprofit, additional government funding gives

some training schools. Through 2028, industry revenue is forecast to

educational institutions more leeway to price their courses more in

rise at a CAGR of 0.5% to $16.9 billion.

line with consumers' spending abilities.

Source: Wert-Berater Feasibility Studies, LLC and IBISWorld

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