Study Abroad in Australia: International Education Generating $25.5 Bn

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Australian international education generated $25.5 Billion for the Australian economy in 2022 to get the economy back to pre-Covid levels.

Australian international education bounced back to pre-Covid levels. The huge surge is a result of a huge number of visa grants and international arrivals. The expenditures of the international students in the country made the industry get to $25.5 Billion in 2022. Thus, international students are largely boosting the Australian economy. Australian Bureau of Statistics (ABS) confirmed that this entire economical surge was solely from the students. These students made ‘education-related personal travel’ and paid tuition fees to Australian Universities creating this contribution to the Australian economy.

International Education Scenario

The Indian students surpassed the Chinese students in admissions to Australian Universities in 2022. 43,925 student visa applications to Australia in the second half of 2022 from Indian students seeking international education. Thus, currently, India is the largest market for Aussie Universities promoting international education. In totality, this is a 215% rise from 2019 data. 

international education

Courses On The Rise

The universities reported that the courses that were not selling great in 2019 are now more popular than ever. Although, they also reported that the ‘export earnings’ from the correspondence courses reduced by 28% compared to 2019 statistics. ABS reported that international education along with mining and tourism raised exports by 3% creating the second-highest trade surplus. This was reported in the last quarter. Remotely delivered courses are currently the top-shelf earners for the service export sector of international education. The top-selling courses are Engineering, IT, Business, and Medicine.

Foreign Students Seeking International Education

Data released by ABS in mid-February on international arrivals in Australia showed 60,000 students getting onshore in January. There were more than 270,000 international students in Australia by 20th February. Keri Ramirez, an international education analyst, stated that there were 36% more student visas granted. This was in the second half of 2022 as compared to the same compartment in 2019.

Adam Gilchrist Launching Educational Initiative

Australian exports are highest in the international education sector largely due to Indian students. Taking a cue from the same, Adam Gilchrist and Education Minister Jason Clare has planned to visit India. The goal is to entice more Indian students to take up higher education in Australia. This would not only boost the economy but, according to Gilchrist, this would make way for better international relations between the two countries.

Thus, international students are greatly encouraged to take up study abroad in Australia. The quality of education is commendable along with a great reduction in the after-study work hours cap. While the students will be largely benefitted in Australia, the economy of the country will get a boost.

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