Industry Analysis & Industry Trends
The Technical and Vocational Education and Training industry has undergone 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 in the industry. Overall, industry revenue is forecast to increase at an annualised 3.0% over the five years through 2015-16, to reach $8.9 billion in 2015-16. This includes growth of 1.8% in 2015-16... 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 increase at an annualised 1.6% over the five years through 2020-21 compared with GDP growth at an annualised 2.8%. IVA is growing at a slower pace than the overall economy, while the number of students enrolled within the industry has stagnated. 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 Federal Government has committed to various industry reforms over the past five years... purchase to read more