The education sector recorded a 10.7 per cent decline in 2020, the second biggest drop after accommodation and food services sector, according to the 2021 Economic Survey released Thursday.
It was a tough year that saw learning institutions closed from mid-March up to October when universities, colleges and finalist classes reopened.
The sector’s contribution to the Gross Domestic Product reduced by 10.7 per cent as teachers and other staff lost jobs, some schools closed shop while others were unable to pay their creditors.
The closure of universities and colleges also negatively affected the economies of the regions where they are situated, especially businesses that offer accommodation to students. Private secondary schools reduced by 229 in a year that saw investors pull out. Public primary schools also reduced by 40.
Private schools were worst hit as their enrolment shrunk by 11.1 per cent as parents whose income had reduced found it harder to pay school fees and many opted to take their children to public schools where enrolment increased by 0.6 per cent. However, the survey projects that the sector will grow.
“Full resumption of activities in the education sector and the hotel industry,… is likely to significantly boost the growth,” it reads.