Can Australia's tech sector scale to hit $250 billion by 2030?

At 3.8 per cent the technology sector's direct share of Australian GDP lags behind the likes of Canada (6.8 per cent), the UK (8.1 per cent) and the US (10.2 per cent), but with the appropriate decisive steps there is potential to significantly scale what is already one of the country's fastest-growing sources of jobs and economic growth.

This is just one of the conclusions reached by the Tech Council of Australia (TCA) in its latest report Turning Australia into a Regional Tech Hub, which highlights Australia's strengths in several areas of a tech sector that currently directly contributes $167 billion to GDP.

The TCA posits this figure could grow by 49 per cent to $250 billion in 2030 by growing the sector, scaling more large companies and encouraging tech investment across the nation. Under this scenario, 1.2 million people would be employed by Australia's tech industry versus approximately 861,000 today.

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