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 SWOT Analysis Chapter
The Technical and Vocational Education and Training industry is in the mature of its life cycle. Industry value added (IVA) is forecast to drop at an annualised 1.0% over the 10 years through 2020-21 compared with GDP growth at an annualised 2.6%. The number of students enrolled in the industry has stagnated, while the number of industry enterprises has fluctuated over the past five years, but increased overall. Some private providers were initially lured by government funding, only to exit as they struggled to build a positive reputation.
The courses offered by the industry have not changed significantly over the past five years... purchase to read more