Industry Analysis & Industry Trends
Publicly funded vocational education and training (VET) is provided by many institutions including publicly funded TAFE institutions, universities with TAFE divisions, other government institutions, community providers, schools and private providers. In 2011, an estimated 1.9 million people enrolled in publicly-funded VET programs, amounting to over 512 million hours of training.
In what marks a substantial change to the industry, the Victorian and SA state governments have opened up their vocational training systems to market-based competition. Instead of providing recurrent funding to TAFE institutions as they did in the past, these governments now fund VET through a student entitlement or voucher system, whereby student choice determines where government funding flows to... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
This industry is in the mature phase of its economic life cycle. Over the ten years through 2017-18, industry value added is forecast to grow at 2.1%, marginally slower than GDP growth of 2.4%.
Despite this, the industry may be entering a new growth phase of its life cycle. Rising competition in industry and ongoing productivity growth encourage continuing training. The introduction of voucher-based funding by the Federal Government will likely encourage growth in provider numbers, almost solely in the private sector. A faster rate of technological change in industry is also contributing to higher demand for training. Markets for VET appear to be expanding, with stronger demand for retraining from those already in the workforce... purchase to read more