Did
you know that every dollar state and territory governments invest in programs
like technical and further education (TAFE) yields a return more than six times
as much? That's the gist of a report published by The Allen Consulting Group in
2006, and the trend is expected to last until 2026. While the report only
focused on the TAFE program in New South Wales, analysts are confident that
other programs in other states can produce similar results. The contribution of
TAFE NSW to Australia's economy within the period was rated at $196 billion.
Many
learning institutions that have been accredited by the Australian
Qualifications Framework (AQF)
provide
affordable alternatives to the standard education system, especially for people
living in far-flung areas. As many of these AQF-accredited courses are done
online, there's no need for the student to travel long distances. These
AQF-accredited courses continue to provide quality labor to Australia's economy
by producing workers trained at the field of their choice, such as accounting,
bookkeeping, and IT.
Certification
by way of the qualifications framework allows companies to give new-hires the
jobs that suits their skills. If TAFE NSW can contribute that much to the
country's economy within the next several years, how much more will the other
territories combined? There's a good chance that the other territories may
contribute an even larger amount. This is highly likely in economic hubs such
as Sydney where the demand for competent workers never declines.
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