Over the past decade, Private Education Final Consumption Expenditure in Malaysia displayed an upward trend from 2013 to 2019, peaking at 18.61 billion Malaysian Ringgits in 2019. This uptrend was marked by a Compound Annual Growth Rate (CAGR) consistently in the positive, reaching a high of 9.05% in 2015. However, starting in 2020, the expenditure began to decline, negatively impacted by the pandemic, showing a drop to 17.47 billion Ringgits. This decreasing trend continued over subsequent years, reaching 15.59 billion Ringgits in 2023, followed by forecasts predicting a further decline to 13.36 billion Ringgits by 2028. The last five years showed a negative CAGR of -2.23%.
Future trends to watch for include potential policy changes promoting private education, technological advancements driving digital learning, economic recovery post-pandemic, and demographic trends influencing educational demand.
