Australia education market doubles in value during 2000 to 2010 to total A$72.8Bn
Education in Australia: ISIC 80 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-02 07:40:04
Over the review period of 2000-2010, the Australian market for education nearly doubled to reach A$72.8 billion. The education industry created 854,000 workplaces in 2010, or 7.8% of the country´s employed population, and its value added accounted for 4% of GDP.
The market grew at an average of 7% per annum over the review period. The government represented the main source of income, with a 55% share in 2010, followed by households (35%) and B2B clients (10%).The industry is highly dependent on government funding, and in 2010 absorbed 8% of overall government spending. However, this was much lower compared with the 17% seen in 2000.
A 2010 OECD report examined government funding of public education and ranked Australia second to last. The study found that public spending on all levels of education in Australia stood at 4.3% of GDP in 2005, well below the OECD average of 5%.
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