Costs, benefits and financing of vocational education and training

As with all other education courses, vocational education and training also incurs costs. These are borne jointly by businesses, individuals and the state. In the medium to long-term, all three parties should benefit from vocational education and training. The economy benefits from qualified specialists, young people benefit from higher salaries and reduced risk of unemployment and the state benefits, for example, from higher tax revenues and reduced spending in the social insurance system.