Colleges & Universities in Canada - Market Research Report

Higher education: Government funding will likely grow as the economy improves

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The Colleges and Universities industry in Canada has grown over the five years to 2023 despite the declining role of government funding and the spread of COVID-19 in Canada. Throughout the period, tight budgets have constrained federal and provincial funding for postsecondary education, especially amid the COVID-19 pandemic causing certain institutions to implement hiring and salary freezes to reduce expenses. At the same time, total enrolment has grown modestly, with most institutions also raising tuition rates. Colleges and Universities industry revenue has been expanding at a CAGR of 1.9% over the past five years and is expected to total $53.1 billion in 2023, when revenue will jump by an estimated 2.2%. Profit will increase amid lower labour costs. The Colleges and Universities industry in Canada provides public and private postsecondary education services. Industry institutions grant certificates, as well as associate, baccalaureate and graduate degrees. This industry does not include for-profit institutions.