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Article - Aged Care is Australia's New Boom Industry

Aged Care is Australia's New Boom Industry - The Aged Care sector has experienced, and is still working through an "extraordinary" period of change.

Trevor Carr, LASA Victoria chief executive, claims this period of change comes as the aged care sector is becoming known as “one of Australia's fastest growing industries” due to an ageing population.

The percentage of people aged over 65 is predicted to increase by 18% in the next five years. In the next 35 years people aged over 85 years will increase as a proportion of the population from 1% to 5% – representing a dramatic increase in the age cohort that drive service demand.

“In regional areas what we find is the number of ageing people that are needing services is growing more rapidly than the national average,” Mr Carr says.

He claims the industry’s economic contribution is substantial and, collectively, we must do much better at informing governments of its importance and raising the profile of the industry.

“In the next 10 years we are talking about 60,000 more residential care places and infrastructure investment of $30 billion.

“An additional 30,000 home care places will be required, and when combined with residential growth this will create more than 80,000 additional jobs,” Mr Carr says.

“These are really big structural changes and significant economic realities and as a result policy makers and the industry are at a stage of awakening of how much this is contributing to Australia’s economy.”

Original source: DPS News, 18 May 2015



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