The tutoring industry is a booming market worldwide, currently estimated at around 100 to 150 billion USD annually and with the potential to grow to 190 billion USD, depending on whose research you take as basis.
For this Reading List: Tutoring Markets Overview we want to give you an in-depth overview on traditional, brick and mortar based tutoring. Therefore, we will publish a separate list on the burgeoning online tutoring market and its huge untapped potential soon thereafter.
One thing to keep in mind is the term tutoring itself covers everything from agencies providing families with in-house trained tutors, to commission based work, and also increasingly subscription-based online platforms as a form of the beforementioned increasing demand in online tutoring. Also, rates for private tutoring vary greatly in different countries.
We see large growth in the Asia-Pacific region with an average 10% CAGR, namely in Japan, Singapore, Hong Kong, South Korea, and China with their superstar tutors making millions each year.
But the tutoring industry has been growing in the U.S. and in Europe over the past decade as well.
In Britain 24% of students, in London around 40%, are getting tutoring nowadays. In Germany it is commonplace that children take private after school lessons. Eastern Europe has also become a profitable market for private tutoring companies as a result of decreasing quality of instruction in public schools as well as a decrease in teachers’ salaries.
Purchasing our curated reading list on the booming tutoring industry will give you access to 21 select articles delivering insight into the dynamics of the most important tutoring markets worldwide.
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Picture by Steven Depolo via Flickr