Australia’s Services Economy

The services sector is now the major driver of growth in the global economy and will increasingly determine Australia’s future growth prospects.

However, it is clear from even the most cursory examination of Australia’s recent economic performance that we need to broaden and deepen this sector’s contribution to our success in the modern economy.

Failing to do so will expose Australia to a real risk of growing economic imbalances and disproportionate impacts when the inevitable downturn in our resources boom eventuates.

The BCA is concerned that policy debate and development remain skewed towards other sectors in the economy – despite the fact that the services sector dominates economic activity and employment and has contributed significantly to productivity growth.

To promote debate on the future of this vital sector, in July 2007 the BCA released a discussion paper titled Underserviced: Why Australia’s Services Economy Deserves More Attention.

BCA Secretariat contact: Ms Melinda Cilento, Deputy Chief Executive

• Underserviced: Why Australia’s Services Economy Deserves More Attention