International education hits $24bn in Australia
The last financial year has seen an unprecedented growth in international student enrolments – around $24 billion flow into the Australian economy, an 18.5 increase on 2015.
According to The Australian, almost all the growth was centred on the nation’s 40 universities.
The Australian Bureau of Statistics figures show that overseas students spent $23.5bn on costs of living, such as accommodation, fees, food and entertainment and another $656 million on other services.
While this has mainly been concentrated in Sydney and Melbourne, regional universities are also increasingly outsourcing delivery to third parties in major cities.
Education Minister Simon Birmingham says the vibrancy of the international student sector is “a testament to the reputation of Australian education across the world”.
“International student numbers are up 14 per cent on last year and while the sector supports more than 130,000 jobs in Australia and delivers billions of dollars to our economy, what’s even more important are the global knowledge connections the sector fosters,” he said while talking to The Australian.