Effect of Economic and Demographic Factors on the Demand for Higher Education Services

Abstract

The demographic situation has recently become one of the most important issues in modern Russia, which also affected the market of higher education service. The research objective was to analyze the demographic profile of Russia and the Kemerovo region. The author identified the impact of demographic and economic factors on the demand for higher education. A correlation analysis made it possible to select proper indicators in order to assess the impact of demographic and economic factors on the contingent of university students. The demographic factors included birth rate and the number of population aged 15–19. The economic factors were the average annual nominal salary and the average annual cost of education. The research revealed a positive correlation between the number of births, the amount of population aged 15–19, and the number of students in higher education institutions. Comparative and relative analyses made it possible to assess the paying capacity of population in the sphere of chargeable educational services, which showed an increase in the burden on the household budget and an increase in financial barriers to higher education. The research contributes to the development of the regional economy as it helps to predict the population's demand for higher education services.