With the UK’s post study work visa debate still going on and average affordability in the US marking higher than Australia due to the recent fall in dollar value, the educational sector income from the foreign student immigrants to Australia had increased to 13% in the year 2015 to a yearly income of around $20 billion. In the industry stats that were announced recently by the Statistics Bureau of Australia says that the total educational investment by the student immigrants including tuition, conveyance charges, and costs for living expenditure in Australia was $19.2 billion a year ago, when contrasted with $17 billion in 2014.
According to the Executive Director of the Australian International Education Association, Phil Honeywood, the stats had uncovered that the students made a vital investment to the economy of Australia in a huge way, making education the 3rd largest industry in Australia. Around 65,000 overseas students were pursuing various modes of education in Australia a year ago divulged the statistics. This number was 10% more than that when contrasted with the year 2014.
More than 2,70,000 students are pursuing advanced education in Australia at the moment. The quantity of students signing up for professional programmes are likewise increasing to around 14% to around 1,70,000. According to Richard Colbeck, Federal Foreign Education Minister, the decreasing value of the Australian Dollar was making a major impact on influencing on the decision making of foreign students why you should go to study in Australia. Countries like India, Indonesia and China are developing markets and are cost sensitive as education loans have higher interest rates to make development faster.
According to Professor Alex Frino, Vice Chancellor of the University of Wollongong pointed out that about 10% reduction in the Australian dollar has lead to the 2% increase in the numbers increase in foreign students registering in the Australian education system. He had likewise anticipated that sooner rather than later, around half million non-resident students would enlist in Australian academics.
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