Meanwhile in developed nations, a more fluid employment market encourages workers to continue training long after finishing formal education. US workers under 32 years of age typically change jobs four times in their first decade in the labor market, twice the amount of career switching of the previous generation, according to a 2016 LinkedIn study. In addition, advances in technology, including robotics and artificial intelligence, can be expected to displace more workers in coming decades, encouraging a greater number of them to acquire new skills.
Globally, demand for education and training is growing at roughly twice the pace of economic output. This has left governments struggling to keep pace, especially at a time of high fiscal deficits and rising debt in many countries. Increasingly, the spending gulf is creating opportunities for corporations.
"It is in the areas of professional training, language tuition, and standardized testing that governments are playing second fiddle to a burgeoning number of private sector firms. And the share of the higher education market that these private firms have is also expanding fast." In Brazil, for example, increased demand for higher education is partly being satisfied by for-profit firms. Three-quarters of Brazil’s seven million university students currently study in private institutions.