International students contributed $11.1 billion to Australia’s economic growth in March. Around $10.85 billion is contributed by offshore students. As per the Universities Australia’s representative, the education sector is the biggest supporter of the country’s economic growth.
The data showcases around 3,054,703 students studied in Australia between 2002-2022. However, 89 per cent did not continue their studies in 2022. And 11 per cent started or continued education in the country.
Additionally, data from the Australian Bureau of Statistics (ABS) have revealed that international students contributed $25.5 billion to the economy last year. Moreover, the number is more than the previous year which is 3.2 billion.
Lastly, the contribution made by international students is still a hike. More students are willing to study in Australia and attain the best skills for their career development.
Statement of Universities Australia Representative
Chief Executive Catriona Jackson stated to press that the March result is a new high-water mark – eclipsing the previous biggest quarterly result recorded in 2019 when education peaked as an export.
The contributions to the country gave the confidence to regain the position of strength held before the pandemic. However, The government’s step to help individuals by increasing the cap on working hours is also favourable.
As per the Australian Department of Education, the work hours cap is intended to balance international students’ need to support themselves and gain work experience in Australia with their main purpose, which is to study in Australia.
Furthermore, she explains that students who complete their higher education in Australia return to their country and serve as better citizens of the country. They know the ways to address the day-to-day challenges the world faces today.