The Australian technology industry has emerged as one of the country’s most significant employers, generating $167 billion in output per year and employing 861,000 Australians, according to new research produced by Accenture and released today by the newly formed Tech Council of Australia.
Set against a backdrop of economic uncertainty, The Council, made up of 25 companies across Australia’s tech sector, has formed to deliver three crucial goals for the sector. The first is to employ one million people by 2025. The second is grow the value of tech to the economy to $250 billion by 2030. Finally, for Australia to be the best place to start and grow a global company, making sure we keep creating more jobs and opportunity right here in Australia.
Robyn Denholm, Chair, the Tech Council of Australia, said “with the right investment and partnership, the tech jobs opportunity can get much bigger. Since 2005, tech jobs have grown by 66%, compared to an average jobs growth rate of 27% across the economy.”
The tech sector has already been critical to managing Australia’s COVID-19 response. As the pandemic forced businesses and everyday Australians into lockdown, software and cloud service adoption by businesses and workers helped avoid total economic shutdown and enable critical services across major sectors.
“While we have a lot of uncertainty across the rest of the economy. Technology has succeeded despite this uncertainty. It contributed $167bn to the economy in FY21, or 8.5% of GDP. Crucially, it is an enabler of all other sectors, helping mining, agriculture, banking, and health drive new growth and productivity.”
“As we rebuild our economy in the years ahead, technology has the potential to expand and create great jobs for our kids and grandkids. Near term, by 2030, the technology sector has the potential to contribute more to GDP than either primary industries or manufacturing,” Ms. Denholm said.
Kate Pounder, CEO of the Tech Council, wants to ensure all Australians are fully aware of the opportunities to access jobs in the sector.
“The boom in tech related jobs means there are now more software engineers and developers in Australia than hairdressers, plumbers, or high school teachers. That’s 1 in 16 working Australians.”
“Workers in our sector can be found all across the country. Tech workers are most likely to live in Western Sydney and Melbourne’s outer suburbs because of their housing affordability, with Southeast Queensland actually fastest growing area for tech jobs.
“This is especially important given the diversity of companies in the tech sector including 35,200 sole traders, 26,100 businesses with fewer than 20 employees and 100 large firms of 200+ employees,” Ms Pounder said.
Key findings from in the report
- Australian technology industry generates $167 billion in output per year and employs 861,000 Australians.
- During the pandemic, the tech sector generated 65,000 jobs, the economy’s second highest job creator behind retail.
- Since 2005, tech jobs have grown by 66%, compared to an average jobs growth rate of 27% across the economy.
- 1 in 16 working Australians in the tech sector.
- By 2030, technology has the potential to contribute more to GDP than primary industries or manufacturing.
- Australia’s technology sector has a diversity of company sizes, including 35,200 sole traders, 26,100 businesses with fewer than 20 employees, and just 100 large firms of 200+ employees.
About the Technology Council of Australia
The Tech Council’s mission is to help grow Australia’s tech sector and drive a tech-supported recovery. Founded on the principle that technology can bring vast economic benefits, and the understanding that its implementation must benefit people, organisations and societies.
Tech Council will focus on initiatives that:
- support growth of, and investment in, Australia’s tech sector;
- generate more jobs and pathways into them and
- help develop effective regulation for new and emerging technologies.
The Tech Council will also take on the responsibilities of StartupAUS and will continue to advocate strongly for the interests of early and growth-stage technology businesses as a core part of its remit.
The Tech Council has the backing of senior tech sector leaders, politicians across the political spectrum, and some of Australia’s fastest-growing companies. The Tech Council’s Board includes:
- Scott Farquhar, Co-CEO, Atlassian (Director)
- Anthony Eisen, Co-founder and Co-CEO, Afterpay (Director)
- Cliff Obrecht, Co-founder and COO, Canva (Director)
- Mina Radhakrishnan, CEO, :Different (Director)
- Didier Elzinga, CEO, Culture Amp (Director)
- The Hon Wyatt Roy, Former Federal Minister (Executive Director)
- The Hon Kate Jones, Former Queensland Minister (Executive Director)
- Alex McCauley, former CEO, StartupAus (Executive Director)
- Kate Pounder, CEO, Tech Council of Australia
Comprising the full spectrum of technology companies from startups to global successes, the founding members of the Tech Council are listed on our website.
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