Australia’s higher education institutes need to reinvent themselves to survive the COVID-19 pandemic, a consultancy group has declared.
The EY consultancy group predicted that by 2030 the Australian university sector would face a $5 billion (US$ 3.656 billion) to $6 billion (US$ 4.278 billion) revenue decline and a 50 percent cut of non-research positions, forcing the sector as a whole to either shut down or restructure. Additionally, it noted that one-quarter of Australian universities potentially faced bankruptcy.
