Industry Analysis & Industry Trends
The Technical and Vocational Education and Training industry has faced ongoing changes to its structure and government funding. The Federal Government increased grants to the industry under the National Partnership Agreement on Skills Reform, signed in 2012, pushing for state governments to reform their vocational education and training (VET) markets. Greater access to student loan schemes and a government shift from funding only state-run TAFEs to offering funding for providers based on student demand in some jurisdictions has increased the number of private providers. Industry revenue has risen at an annualised 3.0% over the past five years, to $8.9 billion, including growth of 1.8% in the current year... 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. 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. For example, Tasmania and Queensland have lower funding per student than Western Australia and Victoria, while the Northern Territory provided the highest funding per student that any of the other states.
The state and territory governments' stance on a publicly funded system or a user-pays system will ultimately determine the distribution of private RTOs and TAFEs... purchase to read more