Funding growth: Increased government support has played out well for industry operators
Despite challenging operating conditions after the COVID-19 outbreak, the Preschool Education industry has been improving its performance. While the pandemic meant that many parents were keeping their children at home, many continued to pay fees to retain their spots at preschools, maintaining industry performance. The Federal Government has been providing more funding to states and territories for providing preschool services, which has been elevating revenue. The National Quality Framework (NQF) has also been changing participation in the industry; changes to staff-to-student ratios and qualification requirements have meant that preschools have had to hire more staff, elevating employment numbers. A growing number of women in the labour force has also fuelled demand conditions, since more parents are needing to seek out preschool services. Revenue is expected to climb at an annualised 2.7% to $3.6 billion over the five years through 2022-23. This trend includes a slight anticipated rise of 0.5% in the current year, since a drop in real household discretionary incomes is limiting revenue growth.
Industry participants primarily provide accredited pre-primary education. Preschool programs are designed to introduce children to the ideas, attitudes and behaviour required in a school environment. Preschool education is generally aimed at children aged three to five, and is provided by staff that have training in an educational field. Governments, community organisations or the private sector may operate preschools.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Methodology
LOADING...