Harnessing Russia’s Growth Potential

The Future of the Economy: Education as an Area of Investment

St. Petersburg International Economic Forum 2018

Forum Programme

While education policy in Russia so far has largely focused on internal issues affecting the system, today it can and must address global challenges in development. The role of education in accelerating economic growth and ensuring social stability is of key importance. New digital technologies are emerging and shaping the educational infrastructure, and Russia’s growth-rate in this area is the second highest in Europe: digital libraries and online higher-education platforms have been developed, and leading research universities are successfully entering the global education market. This has prompted a break-through with Russian universities bringing in two percent of the global audience of MOOCs. While the educational online services market is expected to grow from RUB 1.8 trillion in 2016 to RUB 2 trillion in 2021, these university initiatives have not received sufficient support. Currently, the Russian segment of the market is lagging 20% behind world growth rates; Russia has not entered the global examinations market, and its educational expertise has a minimal reach abroad. In OECD countries, 27% of graduate students are foreign, which allows attracting the talent in scientific and innovation activities in the economies. In Russia, international students make up only around 5% of graduates. How can education make the transition from a system of social obligations to an area of investment? Where should the investment be put towards - talent or accessibility? What business models can be applied in digital transformation and where are the new growth hotspots of the education markets?

Moderator: • Yaroslav Kuzminov, Rector, National Research University Higher School of Economics