Australian Registers High Earnings from the International Education Industry

Study

More students than ever are choosing Australian universities compared to overall attractiveness to the universities in other countries. The education sector has registered an increase in the number of foreign students. Ideally, the international education is among the countries leading earners with a value of over $ 20 billion. This amount goes into the country’s economy becoming one of the largest services export industry in Australia. According to the Australian Bureau of Statistics, The country managed to control cases of attack on foreign students, the issue of bureaucratic visa administration, and a high value for the Australian dollar. These are some of the factors that led to increased record revenue emanating from the international education industry.

Factors leading to High Enrollment of Foreign Students in Australian Universities

There are various other factors that have contributed to the overall attractiveness of Australia to international students. According to experts in international relations, the recent happenings in Europe and the USA are among the reasons why more students prefer to study in Australia. For instance, Brexit has a high potential of influencing choice when looking for the best colleges to attend.

Another factor that experts believe has influenced students to move to Australia is the state of governance in the US. Since Donald Trump clinched the top seat, Australia has managed to attract foreign students who would have gone to the US for studies. For instance, figures released recently indicate that enrollment rate of students from Asian countries in the US universities has declined. These students are more likely to choose the second alternative which in this case happens to be the Australian Universities.

An additional reason why the universities in Australia registered increased number of enrollments is the fact that Australia offers a high quality of life. In fact, the country was ranked as number four worldwide meaning that the quality of life is good for students. Therefore the country offers very good healthcare system, there is a good education system and the job market presents good opportunities for the students. Therefore, these factors together contribute to the attractiveness of the Australian universities to the foreign students.

Financial Figures

In the 2015/2016 financial year, international education exports went up by 8%. This is compared to the previous financial year when the exports registered were $20.3 billion. This figure includes the fee that was spent on goods and services; the basic needs such as food and accommodation, and also the royalties paid by the foreign students. Ideally, the higher education sector attracted up to $14 billion with the vocational training institutions earning up to $3 billion.

Statistics by Peak University body reveal that the international education sector helped to support the living standards of the Australians. Consider that there are more than 320,000 students who come from 130 countries and currently study in the Universities in Australia. For instance, the University of Melbourne enrolled 18,384 foreign students. Other top universities in Australia are also competitive attracting a high number of foreign students.

The Australian National University has over 25% percent of the international students. Other Australian universities that attract a high number of foreigners are University of Sydney, UNSW, Monash University and RMIT. This is a huge population bringing foreign currency to the Australian economy. Ideally, the sector provides more than 130,000 jobs to the people living in Australia.

Conclusion

Reports indicate that the high number of international students subsidies teaching of the local students and helps keep the multimillion dollar research efforts afloat. Therefore, if you would like to enroll in the best universities in the world check out the ranking of universities in Australia and apply to your university of choice.

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