The power of eLearning has tripled in just four years. In 2015 this booming industry is tipped to expand to $107 billion in revenue, up from $35.6 billion in 2011.
Why is this happening? Here we outline five reasons as to why the eLearning industry is booming:
1. Cloud formation The key catalyst for the eLearning boom has been the development of the Cloud. The Cloud has enabled the creation of multiple service-as-a-software (SaaS) business models that are perfect for the supply of eLearning courses.
Few realize that rules regarding the supply of services by US digital companies to customers in the EU have been in place since July 1, 2003.
The rules may have existed but compliance with the VAT on eServices (VOES) scheme as it was called had been “mixed and indifferent”, according to Andrew Webb, of the UK’s tax authority HMRC. Mr Webb was speaking at a Taxamo-organised webinar in London prior to the introduction of the new rules.