Analysis of Private Higher Education in Croatia

Abstract

Croatia recognises the growing importance of education, significantly higher education, and as a result, investment in these fields is a crucial element and part of the country's strategic priority. The main goal of this article is to provide an analysis of the private higher education market by taking into account the characteristics of the private higher education (PrHE) market as well as private universities, polytechnics, and colleges located within the territory of the Republic of Croatia. Thus, to analyse the market for private higher education, it is necessary to examine its organisational and structural aspects and its financial operations using fundamental sector indicators and the movement of financial indicators over the last five years. The analysis of financial indicators shows that the private higher education sector is liquidity and financial stability. Our research demonstrates the need for Croatia to re-evaluate the incentives provided by its regulatory framework for the growth of private universities. A similar legislative framework would also align with higher education reform and the needs of the Bologna process. The global partnership of national and international educational institutions and the cooperation between the private and public higher education sectors are underdeveloped. A national strategy for its support is necessary to guarantee the ongoing growth and development of the private higher education sector. Keywords: Challenges, Prospects, Growth, Private Higher Education, Croatia