University and Other Higher Education in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) October 12, 2014 -- Operators in the University and Other Higher Education industry in Australia have achieved strong growth over the past five years, largely due to increased demand from domestic students. Industry revenue is expected to grow at an annualised 3.7% over the five years through 2014-15. As universities follow the academic year and report financials for the year ending December, some discussion and tables in this report refer to calendar years, rather than financial years. Universities enrolled an estimated 1.3 million students in 2013, 24.8% of which were international students. According to IBISWorld industry analyst Lauren Magner, “The high Australian dollar has impeded growth in international student enrolments over the past five years.” The industry recorded its first decline in international student numbers in 2011, and this was followed by another fall in 2012. However, a rise in domestic enrolments due to the uncapping of university places, which began in January 2012, has offset the decline in international enrolments. In 2014-15, industry revenue is forecast to grow by 3.0% to reach $28.2 billion.
The University and Other Higher Education industry is undergoing significant reform and will continue to do so. The former federal government set a target of having 40.0% of Australians aged 25 to 34 years attain a bachelor level qualification or higher by 2025. The government removed enrolment caps as of January 2012, with funding structures switching to a demand-driven system. “This is expected to have contributed to a rise in domestic enrolments,” says Magner. Following the change in government in September 2013, a review into the demand-driven model was conducted in early 2014. The industry exhibits low levels of market share concentration. Major players include the University of Melbourne, the University of Sydney, Monash University, the University of Queensland and the University of New South Wales.
The Federal Government has addressed some of the recommendations arising from the review in the 2014-15 Federal Budget, with a number of higher education reforms to be rolled out over the next five years. This includes the removal of maximum student contribution amounts for Commonwealth supported students, allowing universities and other higher education providers to determine the appropriate fees for courses they provide. While it is still uncertain how these institutions will react, IBISWorld expects that student course fees will increase significantly.
For more information, visit IBISWorld’s University and Other Higher Education industry in Australia report page.
The industry comprises accredited providers of university undergraduate or postgraduate teaching and research. The industry also includes colleges of education, which offer advanced level courses.
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IBISWorld industry Report Key Topics
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios
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, +61 396553838, [email protected]
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