Industry Analysis & Industry Trends
The Technical and Vocational Education and Training industry has undergone significant structural and government funding changes over the past five years. The Federal Government has increased grants to the industry under the National Partnership Agreement on Skills Reform and pushed for state governments to reform their vocational education and training (VET) markets. A government shift from funding only state-run TAFEs to offering competitive funding for providers based on student demand in some jurisdictions has led to an increase in the number of private providers in the industry. Overall, industry revenue is forecast to increase at an annualised 3.0% over the five years through 2014-15, to reach $9.0 billion in 2014-15. This includes growth of 1.6% in 2014-15... purchase to read more
Industry Report - Industry Locations Chapter
The geographic spread of revenue in the industry largely follows the distribution of population, with certain exceptions. The prevalence of the public VET system, primarily TAFEs, can distort revenue distribution. Victoria, although home to less than one-quarter of Australia's population, receives about 38.3% of combined state funding. This is likely due to the large number of TAFEs in the state.
As the public VET system is primarily funded by the various state and territory governments, the revenue distribution correlates with state and territory budget allocations for the industry... purchase to read more