Proceedings of the 8th World Conference on Future of Education
Year: 2024
DOI:
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Return on Investment in Higher Education: Examining the Economic Benefits for Individuals and Society
Dr. Huda Al-Kubaisi
ABSTRACT:
This qualitative research study explored the economic viability of higher education (HE) in Qatar from a return on investment (ROI) perspective, and discussed how Qatari HEIs generate value for key stakeholders, including students, employers, community, and government. Based on 31 semi-structured interviews with the higher education administrators and policy experts, the study identified key themes, including- the need for alignment of curriculum with changing industry needs, consideration of government subsidies in ROI calculation, and focus on nonmonetary benefits while assessing the return on investment. The study further found that outdated curricula, insufficient practical skills training, and inadequate stakeholder collaboration are key gaps that hinder the economic returns of higher education. The interview findings highlight the need for strategic investments in curriculum development, enhanced industry partnerships, and a holistic approach to student development to maximize the return on investment. Considering the unique Qatari context, the impact of government subsidies while calculating the HE ROI must be considered. Under a collaborative framework, Qatari HEIs can contribute to social and economic development in various ways, like- building a skilled workforce, supporting the transition to a knowledge economy, achieving human capital development objectives, and supporting economic diversification efforts.
keywords: Return on Investment, Higher Education, Qatar