If you are planning to move to Australia for further studies, then this news is just for you. As per a recent survey conducted by the International Research and Analysis Unit, Australia has a lower tuition fee for overseas students as compared to other OECD countries. In fact, the survey says that 89% international students are satisfied with their living as well as learning experience in Australia. As a popular global study destination, Australia has always remained at the forefront of international education, backed by a competitive and diverse higher education and school systems that provide a range of study programs, exchanges, and partnership models that create a pathway for students to reach their potential.
The survey reveals that International education is the third largest industry in Australia, which contributed a total of $37.6 billion to the Australian economy from 2018-19. It was $30 billion in 2017. The figure is expected to increase up to $33 billion by 2025. The major share of income from offshore applicants is sourced from countries such as, China, India, Vietnam, Thailand, Nepal, Malaysia, Brazil and South Korea. The major portion of enrolments is derived from Asian countries, which include China, India, Nepal, Thailand, and Vietnam. This clearly depicts how Australia is hugely popular among international students from these countries specifically, and how it has emerged as a global leader in the realm of education.
According to the data, students in Australia also have greater possibilities of finding employment opportunities post their studies. These jobs aren’t only in the education, but also range from primary and service industries. At present, there are around 720,149 foreign students in Australia, and it is mandatory for each of them to have an access to private healthcare, along with consumer goods and services used in routine life. Deloitte Access Economics (DAE) recently undertook a study where they revealed that over 130,000 jobs in Australia are supported by students only. Over the years, international students have played a pivotal role in booming the Australian economy, especially when Australia was going through Global Financial Crises in 2012-13. During that time student population in Australia was less, and the economic policies towards them were a bit conservation, which consequently impacted their value negatively in Australian labor force.
However, the present scenario is completely different with international students in Australia getting more value and acclaim for their contributions in the country. International students also make valuable contributions to a number of regional communities in Australia. Currently, over 241,783 jobs in Australia are supported by full-time students, which is 3.0% of Australia’s total population. In addition to this, a total of 880,380 International students enrolled for studies in September 2019. Deloitte Access Economics report also revealed that Australia’s international education industry is expected to grow up from 650,000 to 940,000 by 2025 (an increase by 3.8%).
Australia’s National Strategy for International Education has created an AIE2025 roadmap to support ongoing developments in the education sector. The AIE2025 Roadmap aims at taking initiatives to boost Australia’s international education market. The strategy comprises a wide range of government initiatives, which include the Australia Global Alumni Strategy and the National Innovation and Science Agenda. All of them aim at making students more innovative, dynamic, and globally engaged.
Overseas Students in Australia make valuable contribution to the following sectors:
- Addressing Skill Gaps– International students in Australia bring high levels of skills, therefore, play a huge role in addressing labor shortages across various industries. Specifically- hospitality, nursing, accounting, aged care, etc. In fact, students in Australia are quite active in working in restaurants and farms to earn some exposure and experience.
- Growth and Innovation- There are many businesses and start-ups in Australia which rely on skilled international students seeking to gain some experience in the country. With Australian government taking initiatives in science and technology, it will be a huge opportunity for international students trying to get some exposure in the country, which ultimately lead to their PR visa status.
- Tourism Industry- Many international students choose to associate with tourism industry who come to Australia for holidays or business meetings post their graduation.
- Administration- Most of the international students also like to pick administrative jobs as it is relatively easy with good working hours and nice pay structure.
Education is a valuable component in Australia’s economy. It has the ability to build capacity within the country, and provides pathways for national and international business to capitalize on skills that international students offer. The future of international education in Australia is bright, with more benefits and opportunities delivered to industry-ready graduates. Whether you are already studying or planning for study in Australia has huge growth opportunities as the study programs are carefully designed to meet the students’ needs and prepare them to be part of Australia’s diverse workforce.