Private Schools in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) March 23, 2014 -- Almost 1.3 million Australian students attend private schools. The Private Schools industry is forecast to be worth $20.4 billion in 2013-14, an increase of 4.2% on the previous year. Private or non-government school enrolments are split between Catholic schools and independent schools, which include religiously affiliated schools and special schools such as Montessori and Steiner schools. Private schools rely on state and federal governments for about 57.0% of their funding, generating the rest of their income from tuition fees, donations and, in some cases, income from affiliated religious organisations. Private schools are operated on a not-for-profit basis. Over the past five years, private schools have gained market share against public schools, outstripping them in enrolment and revenue growth. Private schools also proved relatively resilient during the economic downturn. IBISWorld industry analyst Lauren Magner states “following the global financial crisis, a weakening economy caused concern that enrolments in private schools would decline, as families were anticipated to switch to the public system under the pressure of slow income growth and rising unemployment. However, enrolment figures over this period reveal that there has not been a shift away from private schools.” Although revenue fell in 2008-09 due to a decrease in funding from private sources, in the following years demand was supported by the long-term trend towards private school education, due to the perceived higher quality of this form of schooling. Over the five years through 2013-14, industry revenue is expected to grow an annualised 6.6%.
Education reform has been ongoing throughout the past five years. The Federal Government has exerted its influence to push for greater national consistency in schools, both government and non-government. According to Magner, “reforms have included harmonising the number of school years, creating a common school starting age, establishing national testing and reporting of numeracy and literacy ability, and developing a national curriculum.” The Gonski model has been developed by the government in response to declining overall standards of Australian schools. The implementation of this plan will result in an increase in federal funding for the industry.
The Private Schools industry's concentration is low due to the nature of the services it provides. Quality, not quantity, drives the industry, and therefore many private schools are limited in size and provide education services to students from a small area. It is generally believed that small schools and small class sizes are conducive to achieving better academic results. Concentration may vary by region, depending on the demographics or the history of the area. For more information, visit IBISWorld’s Private Schools report in Australia industry page.
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IBISWorld industry Report Key Topics
This industry consists primarily of private schools that provide primary and/or secondary education. These schools are not administered by the various state or territory governments, though they must adhere to educational policies set by relevant jurisdictions. In most instances, the education provided by this industry is delivered to the students for a compulsory fee. Private schools are also referred to as non-government schools.
Industry Performance
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Industry Outlook
Industry Life Cycle
Products & Markets
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International Trade
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Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
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Technology & Systems
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About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
Gavin Smith, IBISWorld, http://www.ibisworld.com.au, +61 396553833, [email protected]
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