Prospects of tuition classes in 2023

2023 Remedial Classes Prospects:Overall the prospects for education and training institutions in 2023 are very good.

Golden Age of Vocational Education in 2023

The golden age of vocational education is coming. According to Deloitte's research data, China's vocational education market size will exceed 900 billion yuan by 2023. And this is mainly reflected in 2 areas.

Vocational Exam Training

In the previous few years of the epidemic, recruitment-type exams and qualification exams received postponements or cancellations, and many training organizations were greatly affected. As the epidemic recovers and vocational exams return to normal, the demand for candidates to participate in training and exams will pick up. According to Frost & Sullivan, the vocational exam training market is expected to reach 110.2 billion yuan by 2026.

Professional skills training

According to People's Daily Online, the shortage of skilled personnel in China's key fields in 2025 will approach 30 million. China's rapid economic development, industrial structure upgrading is imminent, manufacturing and service industries for the professional skills and quality of workers are putting forward higher requirements. In addition, there are many new occupations such as artificial intelligence, modern agriculture, modern information technology, biotechnology and so on, these emerging fields have a large talent gap.

However, on the other hand, China's current employment situation is grim. Data from the National Bureau of Statistics show that from June to November last year, the unemployment rate of China's young population aged 16-24 ranged from 17.9% to 19.9%, hitting a new high in the past five years. Difficulties in employment are mainly reflected in 2 aspects. One is that enterprises can't recruit people, and on the other hand young people can't find jobs.

And vocational and technical training is an important measure to improve the ability of laborers to find employment and entrepreneurship, to alleviate structural employment contradictions, and to promote the expansion of employment. Frost & Sullivan predicts that by 2026 China's vocational and technical training market size will reach 221.5 billion yuan.

Expanding Market Size

The online education and training industry has shown rapid growth in the past few years, and this trend will continue in the future. According to the report "China Online Education Industry Market Outlook Forecast 2019-2023" published by Avery Consulting, China's online education market will reach RMB 345.2 billion by 2023, a year-on-year growth of about 27.3%. The expanding market size will provide greater development space for the online education and training industry.