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Tech leads the way as Australia's digital economy prepares to smash $139 billion mark

Tech leads the way as Australia's digital economy prepares to smash $139 billion mark

Australia’s digital economy is set to grow to $139 billion (or 7 per cent of GDP) by 2020, according to a new report.

Australia’s digital economy is set to grow to $139 billion (or 7 per cent of GDP) by 2020, according to a new report.

Conducted by the ACS and Deloitte Access Economics, the report Australia’s Digital Pulse, indicated that a major skills shift was underway in the Australian economy.

Demand for ICT professionals between now and 2020 is forecast to grow 1.8 per cent in NSW, which is a bit less than the national growth average of 2 per cent annually.

The largest growth area in NSW is projected to be ICT trades (2.8 per cent annually), followed by ICT management and operations (2 per cent annually), demonstrating the overall business growth in NSW projected over the next five years.

The report also used LinkedIn data, which indicated that six out of the top 10 skills now sought after for ICT specialists are non-technical skills such as project management, sales and customer service.

About 2.5 million Australians in non ICT roles also revealed that digital literacy skills were an increasingly important part in their job.

The report also compares states and territories with NSW holding the highest number of ICT workers at 234,924, followed by Victoria (183,247) and Queensland (95,402).

ACS NSW chair, Richard Baecher, said NSW was set to benefit from digital technologies, based on the large ICT workforce.

“We are an innovative state looking to make technology an even bigger part of who we are. However in order to do so, NSW needs to ensure that its education system, policy settings and business practices are all working towards equipping the country’s workers with the required technological skills,” Baecher said.

“Knowledge and services based industries, driven by the combination of new technologies and ICT skills, are where the new jobs will be generated. We must continue to lead the nation in investing in these skills to help transition to a services based economy.”

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