Economic and social impact of the aged care sector in Western Australia
Client: Amana Living, Baptistcare, Bethanie, Brightwater, Catholic Homes, Hall & Prior, Juniper, MercyCare, RAAFA WA and Rosewood
The aged care sector provides vital support to the comfort and dignity of elderly West Australians. While the positive contribution of the Care Economy is appreciated by those that benefit from the care and support provided by the Aged Care Sector, its economic contribution to the WA economy is not well understood.
The economic contribution of the Aged Care Sector extends beyond the employment opportunities that are created in providing care and support services. The Sector also generates opportunities for suppliers of goods and services to the Sector; the activities associated with the Sector generate additional taxation revenues to governments; it helps to reduce the incidence and costs associated with more expensive health care, and most importantly it improves the quality of life for elderly West Australians and their families.
In December 2020, a collective of Western Australian aged care providers engaged ACIL Allen to produce a detailed study quantifying the important economic and social impact of the Aged Care Sector to Western Australia’s economy and society more broadly. Working in collaboration with the Sector, ACIL Allen developed an approach that encompassed three core modelling tasks:
- Economic Contribution of the aged care sector in 2019-20
- Economic Impact of the aged care sector over the 10 years to 2029-30
- Social return on investment of the aged care sector
ACIL Allen’s report was launched at a sold out Business News breakfast event in Perth on 28 May 2021.