The forecasted household spending on tertiary education in the UK shows a consistent upward trend from 2024 to 2028. In 2024, the spending is projected at 65.6 units of education spending and is expected to increase annually, reaching 73.07 by 2028. The data implies a year-on-year growth of around 2.9% for 2025, 2.79% for 2026, 2.67% for 2027, and 2.54% for 2028. These consecutive yearly increases reflect a steady growth pattern in household spending.
The Compound Annual Growth Rate (CAGR) over these five years averages around 2.73%, indicating a moderate yet consistent climb in the expenditures over the forecasted period.
Future trends to watch for include potential impacts of economic factors, policy changes in education funding, and demographic shifts affecting the number of students enrolling in tertiary education. Monitoring inflation rates and tuition fee adjustments will also be crucial in anticipating variations in household spending on education.
