Enrollment in higher education has exploded across the developing world: up 144% in just five years. With access limited by available seats and high prices, the unmet demand is estimated at 35 to 50 million students.
Long the privilege of the wealthy, higher education is being demanded as
a right for all economic classes across the developing world.
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| Source: The Global Education Digest 2006 (UNESCO) | ||||||||||||||||||||||||||||||||||||
Despite this rapid growth, the percentage of college graduates in developing nations is still less than 10%, while in developed nations it is more than 40%. Millions of eager students are barred from access by price and lack of capacity.
This unprecedented demand for a college education is being driven by increased education requirements of 21st century jobs and the rising aspirations of two billion teenagers in developing countries.
The growth in demand is accelerating, overwhelming the ability of existing public and private institutions to meet the needs of students. Traditional universities cannot rapidly expand their high cost systems, and governments cannot afford to significantly expand their heavily subsidized higher education capacity. The private sector in developing countries often does not have the capital or expertise needed to take higher education to scale in their country. This inability to meet the demand provides Whitney an enormous opportunity.
Governments across the world recognize that education and intellectual capital are replacing natural resources as the principal drivers of economic growth and standards of living. In order to achieve that growth in their own countries, some governments view Whitney as a potentially important part of their education infrastructure. Some are helping Whitney navigate regulatory issues to accelerate implementation.
