What happened
A study by Oxford Economics Australia for CA ANZ revealed that the accounting profession contributed $82.4 billion to Australia's GDP in 2024–25, ranking it as the nation's 13th largest industry. The sector supports over 365,000 jobs, with two-thirds working directly within corporations and government. However, the report projects a severe shortfall of 17,900 finance professionals by 2035.
Why it matters here
Essential financial infrastructure relies heavily on accounting talent across corporate, advice, and audit domains. A widening skills shortage driven by declining university enrolments, migration limits, and shifting technology demands could increase compliance expenses, delay financial reporting, and elevate service costs for Australian businesses and self-managed funds.
What to watch
Government policy updates regarding skilled migration visas and upcoming higher education enrolment statistics to assess whether workforce pressures begin to ease.
Source
oxfordeconomics.com