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 SWOT Analysis Chapter
The Technical and Vocational Education and Training industry is in the mature stage of its life cycle. Industry value added is forecast to increase at an annualised 2.6% over the five years through 2019-20 compared with GDP growth at an annualised 2.7%. This indicates that the industry is growing at a marginally slower pace than the overall economy.
The Federal Government has committed to various industry reforms over the past five years. A move towards demand-driven funding across all states and territories will support student enrolments and encourage new providers to enter the industry, particularly in the private sector. Industry enterprises are expected to grow by an annualised 1.6% over the next five years... purchase to read more