It is collaborating with representative bodies in the tourism, transport, agriculture and financial services fields in what it hopes will herald the future of Australia’s economy.

Together these sectors directly employ about 1.7 million Australians, with many more jobs generated in supporting and value-adding industries.

“It is time to be ambitious when planning for the growth industries that will underpin economic growth in the decades to come”

“With the decline of many traditional industries, it is time to be ambitious when planning for the growth industries that will underpin economic growth and employment generation in the decades to come,” commented Phil Honeywood, executive director of IEAA.

The Future Economy Forum aims to support industry and double employment in each of the sectors represented by IEAA, Tourism & Transport Forum Australia, the National Farmers Federation, the Financial Services Council and the Australian Services Roundtable.

The five bodies “represent the sectors that provide the best potential to expand and increase the nation’s economic wealth and create the jobs that will provide opportunity and maintain quality of life for all Australians”, the coalition said in a statement.

The forum said it will work in partnership with government on policy areas that underpin growth in each of the industries: tax, workforce, innovation, infrastructure, sustainability and trade.

It is initially calling on the federal government to develop a Future Economy Strategy that will focus on these six areas and identify the key items for reform that will support growth.

The services sector, which includes tourism, international education and financial services, accounts for more than two-thirds of Australia’s GDP. The mining sector and agricultural sectors also account for a tenth of economic growth.

Industry leaders said they are encouraged by recently-elected Prime Minister Turnbull having already indicated his support for ‘future economy’ industries driving economic growth and jobs generation.

Over the last two years, the international education industry has grown A$3bn to A$18bn.

“We now have a Prime Minister and Treasurer who are talking about the future drivers of the Australian economy,” Honeywood told The PIE News.

“We now have a Prime Minister and Treasurer who are talking about the future drivers of the Australian economy”

“As key players in those sectors, we have come together so we can play a constructive role about how we can deliver growth, jobs and prosperity over the coming decades.”

Speaking at the launch of the forum in Sydney this week, Margy Osmond, chief executive of TTF, said it will aim to give a “focussed voice” to the industries it represents.

“There is a bit of doom and gloom at the moment about where our national economy is heading and what will drive the economic opportunity that will keep millions of Australians in their jobs,” she commented.

“For our part, the members of the Future Economy Forum are very excited about the future of our industries and their potential to take up the reins of our economy.”