Online Education Business as a Tool to Boost the Economy
According to a recent survey conducted by KPMG, the online education industry will be a $1.96 billion industry in 2021. The report titled ‘Online Education in India: 2021’ highlights the growing influence of the internet on the education industry in India. The reports also reveal that over the last few years, growth for online courses has increased twice in number and thrice in terms of searches from mobile.
Today, it is possible for individuals to get great quality business knowledge without leaving their house. While it may not guarantee the same effect, it will definitely give you important skills that students gain from top business schools.
Now, let’s take a look at some of the advantages of online education to the economy:
1. Flexible:
Not every student can learn at the same pace and in the same way. Therefore, online courses give learners a chance to control the pace of their education. This gives students from across the world a chance to take part in the educational process.
2. Cost-effective:
With the help of online education, students can save a lot of money that is generally spent on attending regular classes or lectures. No more expensive books and no transportation charges. This cuts down expenses drastically. It also gives every student a chance to educate themselves and increases their chances of finding a job.
3. Personalised education:
Online education also gives students a chance to customise their course. Here, individuals have the opportunity to skip programs or subjects that are irrelevant or does not assist them in achieving their goals.
Now, the next question is, how are online courses beneficial to the economy?
It goes without saying that online education has transformed the traditional classroom approach to education and has included a new business sector. This has given rise to more jobs for web developers, instructors and administrators.
But how does it impact the economy at large?
With the rising popularity in online learning, employers are becoming eager to hire graduates. Online learning is slowly replacing traditional education and producing a higher level of online educated students. This has the potential to result in an economic boom. This is how technology is shaping the future of education in India.
Plus, online education offers more opportunities to improve and change the education process and benefit the economy. As it is less expensive and more flexible, learners are easily attracted to it. But, for this industry to grow and succeed, it is very necessary to understand the past, present and future of online education as well as find and train instructors who will be able to engage and handle this new educational process. The impact of online education is probably not very noticeable currently. However, if the pace of online education remains the same, it can definitely uplift the economy in the future.
