The income of the private higher education institutions increased from 82.9 million GEL to 312.1 million GEL in 2011-22. Out-of-pocket (OOP) payment is the key means of Higher education paying in Georgia while state funding is still low - Galt&Taggart report says.
"The annual tuition fee in the private sector varies between GEL 2,250-30,000. Most surveyed universities (52.4%) charge the annual tuition fee of GEL 2,500-5,000.
Profit margins of the top 15 private universities have remained high despite the pandemic. The switch to online learning has lowered operating costs. As a result, EBITDA and net profit margin increased in 2020-21 compared to 2019. It’s worth mentioning that personnel costs make up about 40-45% of revenues.
Top-15 private schools are moderately leveraged with debt/EBITDA ratio hovering between 2.0-2.5," the report reads.
In 2021, "University of Georgia" had the highest income among private universities that made GEL 36.9 million followed by Georgian National University SEU with GEL 21 million and Caucasus University with GEL 25.3 million.
