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This report provides in-depth findings on the state of Australia's digital economy, the economic benefits of skills investment and the importance of tax reform in attracting global tech talent.
Australia's digital economy is set for substantial growth, fuelled by advancements in technology. Established technologies like cloud services, social media, and mobile devices will expand into new industries and sectors. Emerging technologies such as 3D printing, drones, and autonomous vehicles hold even greater potential for commercial applications.
Digital technologies are projected to contribute $139 billion to Australia's economy by 2020, representing a significant 75% growth and increasing the digital economy's share of GDP from 5% to 7%. The majority of this growth (97%) will occur outside of the traditional Information, Media, and Telecommunications industry.
This expansion will drive demand for technology workers. With over 628,000 technology workers in 2015, more than half are employed beyond ICT-related industries like professional services, public administration, and financial services. This indicates higher-than-expected growth and reflects the broader strength of the Australian labour market.