In the UK we are getting more PhD candidates than there were 10-20 years ago because the stipend that a student is paid is actually a living wage. It used to be

In the UK we are getting more PhD candidates than there were 10-20 years ago because the stipend that a student is paid is actually a living wage. It used to be that the PhD stipend covered the university fee only, and that to continue as a PhD student you needed some other income. It's now seen as a reasonable career move - boost your skills, do something interesting, travel the world and get paid at a rate that most undergraduate students consider luxurious.