International Students Contribute $17.5bn To Australian Economy


If you wish to know the value of international community in Australia, ask the treasury department and they will tell you its worth. According to the government figures, International students contributed a record $17.5 billion to the Australian economy in one year, ­

This is the highest number since 2009 when the contribution was $16.1bn, a 14 per cent surge compared to the previous corresponding period, according to ABS (Australian ­Bureau of Statistics).

There are currently 413,000 international students in Australia and rising number means contribution will increase.

Major contribution is via tuition fee for the courses they study. However, it is not just the tuition fee but the money they spend on accommodation, travel, goods and services. And not to forget the money they spend during permanent Residency visa applications. Ask a student and they will tell you about the thousands of dollars that goes in these applications. Medical checks, IELTS exam fees which they might have to give multiple times if they don’t get the required score, lawyer or agent fee and visa application fee which is huge. All these contribute to Australian economy.

For a long time there has been a lot of Chinese students coming to Australia for higher studies however, there has been a recent surge in immigration from India. Currently, Indians top the list of people who are applying for the Australian citizenship.

Australia’s share of the international student market increased from 5.1% in 2000 to 7.0% in 2009, making Australia the third largest provider of international education services in 2009, behind the United States (18%), and the United Kingdom (10%).

Considering the relative size of Australia’s population, such high representation amongst the international student market is indicative of the ongoing importance of this sector to Australia, both economically and for communities.

 

 

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Vikas Rana

Vikas Rana

Founder of Mediatimes- Brisbane's leading blog/news site. Founder and Director of WebsiteFix- SEO & website design services

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