Developed education sector in a region is a guarantee of an economic growth. Universities not only reinforce monetary incomes to the government through the tuition fees.
Young student attracted to a new university will encourage the development of the region’s infrastructure, thus creating the economic growth and prosperity of small businesses in gastronomy and entertainment.
What Is the Current State of Affairs?
So far by the year 2016-2017 the world top higher education institution is the University of Oxford according to the Times Higher Education World University Rankings. The assessment of the universities and ranking are based not only on the university research successful activity but international engaging, teaching skills and knowledge transfer as well. Though, the Western counties are still dominant in the education sector, Asia is rapidly increasing its power in higher-education. And the reason is that East Asia, particularly, has invested into higher education in the late years. However, the research shows that there is a reverse exchange of the affairs.
The Line Between Education and Economic Growth
According to the research of a London School of Economy, the increase in the number of universities is raising GPD in the region. The analysis of data gather from 15,000 universities in 78 countries show that GPD per head has increased in 4.7% due to the doubling of the universities in the area.
Here come a couple of questions: what are these countries and what to expect from them? What are the counties best establishing the connection between economic development and higher-education sector enlargement?
Are TACTICS Using the Right Tactics?
Well, it is hard to predict the sequence of the events for sure but relying on the analysis done by the Center for Global Higher Education there are seven counties that are determined to succeed in future. They are called TACTICS:
T – Thailand
It is believed that this prospective Fantastic Seven of the global education field can outrun today’s world rising star nations of India, China, Brazil, South Africa and Russia. It means that there are new stars taking lead in the education horizon in the future.
Trough Hardship to the Stars
Nevertheless, all of the TACTICS have some social or political issues that might intervene the economic growth and education expansion. Based on the graphics presented by Times Higher Education the highest levels of corruption are in Iran followed by Argentina. The editor states the Turkey and Iran are both strong in intellectual potential. However each is going through tremendous political changes. High levels of corruption might drive off the foreign students. Political instabilities in Turkey for example can also harm the country’s reputation of the new education global center. It probably will become harder to attract top researches from other counties.
All in all, every country of the TACTICS is facing some issues that could slightly hurt the reputation and scare of students. Yet, taking a closer look at these counties from the view of higher-education development – the raise of universities can really define the next decade for them. These counties are making high investments into higher education institution that eventual are going to pay off. The tactical steps taken towards education expansion kill two birds with one stone: increase the education level of the population and the prestige of the country across the globe and help develop other spheres of life in the regions.