Up by 22% – International Students Generate $24.7 Billion for Australia
Australia’s international students have generated hefty $24.7 billion revenue in 2017; this is a 22% hike compared with 2016. According to overseas trade data, this was the strongest annual growth since 2008. The figures were happily presented by the Australian Bureau of Statistics.
The base credit for this is attributed to the world-class range of Australian universities, enticing the best amongst foreign students. Rightly recognised, Australian universities make sure that success levels are enhanced every year which is considered an investment in quality attracting foreign students.
The $24.7 billion revenue is made up of personal expenses made towards education, including tuition fees and living costs. Today, overseas education is Australia’s third largest export, next to ore and iron.
Overseas students help to add to the cultural melting pot that is Australia with many students coming from countries such as Malaysia, China, India and Vietnam. Over 45% of the higher education international students study Business Management, while around 12% are studying engineering at top Australian universities.
Acting Chief Officer Universities Australia, Catriona Jackson has emphasised the importance of the income generated by these foreign students, which eventually supports wages, jobs and living standards in Australia. Jackson has also made it clear these revenues are much more than mere cents and dollars, impacting the nation in a big way.
The influx of overseas students in Australia is a testament to the quality and standards on offer at the nation’s universities, hence, both parties are in a win-win situation, with students walking away with world-recognised qualifications.
If you are looking at studying in Australia on an Australian student visa, skilled migration to Australia or any kind of visa assistance, speak with one of Melbourne immigration agents who are MARA registered for the best results. Remember, Australian universities are out there to help you develop your chosen career path and promise to give you a bright future.