Industry Analysis & Industry Trends
Over the past five years, the Technical and Vocational Education industry has faced a number of challenges, as various events have significantly changed its operating landscape. Government cutbacks following the economic downturn led to a drop in training four times greater than any other European country, according to the Institute for Public Policy Research. Furthermore, the growing internet-based economy in the United Kingdom and the strong recovery of construction markets have created a serious shortage of skills within the UK workforce. This skills shortage has resulted in a renewed focus on vocational training from the government and has fuelled demand for courses specialising in new skill sets.
A number of policy changes have aided development in the industry... purchase to read more
Industry Report - Industry Investment Chapter
Comparing industry labour and capital costs suggests that the industry has a moderate level of capital intensity. Industry training involves a high level of labour input, as teaching in vocational subjects usually involves a higher teacher-to-student ratio than university courses. Wages are estimated to account for approximately 64.7% of industry revenue in 2016-17. The introduction of computer and internet-based training may limit increases in labour costs to some extent, but face-to-face teaching is expected to remain a central component of further education and skills training.
Vocational and technical training requires a much higher level of capital than other educational industries, with depreciation estimated to account for 12.2% of industry revenue. Tec.. purchase to read more