Is the education sector saturated? Yes — but only in some parts of the world. Not a day goes by without a news (or an ad) of yet another education-based startup (including coding camps) making its debut. While the education sector in the U.S. prides itself on its wide offering of resources (both proprietary and free) for learning online and offline, many other countries still struggle with trying to attract enough supply to meet their burgeoning need.
Below is an excerpt from a McKinsey publication I read today (emphasis added):
Elsewhere in the world, the private sector, both education providers and employers, has played a critical role in providing opportunities for young people. Given the right conditions, it can play the same part in the Arab world as well. The report therefore highlights these messages: demand is substantial for private-sector involvement but supply is limited; vocational education and training, private universities, and work-readiness programs are the major categories of private investment opportunities; and several critical enablers of private participation are missing, such as rigorous standards to ensure that students are taught the right skills. Surveyed private employers tell us that only one third of new graduate employees are ready for the workplace when hired.
Read in full here.