High-quality education is one of the main determinants of economic growth. According to the “Government Program 2016-2020”, education is one of the main priorities for the Government of Georgia. Since 2013, the allocated budget of the Ministry of Education and Sciences of Georgia and its share in GDP has been increasing annually. These dynamics can affect, both directly and indirectly, on economic indicators such as productivity, competitiveness, unemployment and welfare. In this regard, the review of different aspects of higher and vocational education is worthwhile.