The dynamic shift to 'Work from Home' culture has resulted in people adapting to new reality - connecting solely to online platforms to work, teach and learn. While working from home has become the new normal, millions of employees found themselves with more time in hand. Many have channeled their extra time into learning new skills, thus resulting in the sharp increase in the online course enrollment.
The online education industry has shown significant growth over the last decade, offering millions of people worldwide the opportunity to gain new skills from the comfort of their own home. The recent COVID-19 outbreak has encouraged this trend by placing E-learning in the spotlight almost overnight as many suddenly had to work and learn while under strict lockdown measures.
While online education has been growing steadily in the past few years, COVID-19 pandemic has paved the way for stronger market growth. In fact, even before the outbreak, the E-learning industry was skyrocketing with the market expecting to reach a whopping $350 billion by 2025. E-teaching has become a great way to make supplement income. Interestingly, 52% of those who teach professional skills , generate income of $500+ per month and 21% earn between $1000 to $3000 per month.
Payoneer, which streamlines global commerce surveyed online teachers from 40 different countries inviting them to share how the crisis has impacted them and what they believe the future of E-learning holds once the outbreak subsides. As per the detailed survey, the E-learning market is expected to reach $350 billion in 2025 (E-learning platform typically cover two categories: Professional Skills and Foreign language). Up to 74% teachers joined the online education industry in the past two years (74% of professional skills teachers and 73% of foreign language teachers joined the online education industry within the last two years)
90% of all E-teachers would consider making e-teaching their primary source of income in the future. During COVID-19, 82% of professional skills teachers and 55% of foreign language learning teachers saw an increase in course registration. 87% of those teaching professional skills and 54% of those teaching foreign language expect that demand for their courses will increase in long-term.
About Payoneer:
Payoneer’s mission is to empower businesses to go beyond – beyond borders, limits and expectations. In today’s digital world, Payoneer enables any business of any size from anywhere to access new economic opportunities by making it possible to transact as easily globally as they do locally.
Payoneer’s digital platform streamlines global commerce for millions of small businesses, marketplaces and enterprises from 200 countries and territories. Leveraging its robust technology, compliance, operations and banking infrastructure, Payoneer delivers a suite of services that includes cross-border payments, working capital, tax solutions, merchant services and risk management. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands like Airbnb, Amazon, Google and Upwork, Payoneer makes global commerce easy and secure. Founded in 2005, Payoneer is profitable and has a team based all around the world.