Global recession might have adverse effects on most of the industries but the world is experiencing resurgence of one sector on the wake of such recession. What is it?
When the global recession struck it resulted in downslide of most of the industries adversely affecting their progress. However there seems to be one that has not been so affected and instead is experiencing sort of resurgence. What is it?
Recently on a warm Spring evening, hundreds of investment bankers, venture capitalists and others at a Phoenician luxury resort besides its pool. The occasion was no business conference or exhibition or such but it was an occasion when high profile education innovators gathered there. Discussions revolved round education and associated issues that the guests discussed and listened over their cocktail pegs.
Numerous innovations are now taking place in the world of education that is spurred by technological inventions. Especially it is the arena of higher education that is experiencing the impacts of such educational innovations. At the same time the truth also surfaces that educational innovations are more or less immune from the adverse impacts of the recession.
Unlike many other industries that are now suffering due to drying up of investment flow, such flow in case of educational inventions are quite substantial, a record smashing 168 ventures in United States alone last year.
According to GSV, the host of the event; “the computing power of “the cloud” and “big data” are unleashing new software. Public officials, desperate to cut costs and measure results, are open to change.”
Recent trends in the industry are of MOOCs or the Massive Open Online Courses that are offered by various elite universities and educational institutions online. Phoenix is one of the leading exponents of the online courses for students from all over the world and all the universities that are offering such courses are enrolling millions of students every year.
Despite the fact that there is no head to head encounter between the students, teachers, and university managements during the entire process and almost everything is carried out online, the popularity of such technological revolution in the field of education is consistently rising.
Like most other technological innovations, the United States is also taking leading role in the field of educational innovations and this despite the fact it was one of the worst affected during the global recession gives credence to the theory that educational innovations are least affected by such recession. In fact the educational innovations technologies are bubbling up mostly from United States now.
However the impact of the educational innovations can be global especially in the countries where the effects of mass higher education are a new feature. However it was accepted by most of the participants, delegates, and audiences that were present in the meeting that the impacts of educational innovation would be more visible in the field of higher education.
Easy availability of finance has also added to the impetus in the resurgence of educational innovations. A massive $200 billion is spent along in student financial aids in United States every year and this has added substantially to the resurgence process.