Industry Analysis & Industry Trends
The Technical and Vocational Education and Training industry has faced significant changes to its structure and government funding 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 funding for providers based on student demand in some jurisdictions has led to an increase in the number of private providers. Overall, industry revenue is forecast to rise at an annualised 3.0% over the five years through 2015-16, to $8.9 billion. This includes growth of 1.8% in the current year... purchase to read more
Industry Report - Industry Investment Chapter
The Technical and Vocational Education and Training industry displays a low level of capital intensity. IBISWorld estimates that for every dollar spent on capital costs, $9.38 is spent on wages. Lecturers and teachers are required to conduct face-to-face classes, resulting in a high level of labour input. Industry operators also hire non-academic staff to undertake general administration and maintenance activities.
Depreciation costs are incurred through investment in buildings and specific equipment and technology. The introduction of computer and internet-based training has led to increased capital investment in technology infrastructure and systems... purchase to read more