Overseas students in Australia have generated a whopping 24.7 billion dollars in 2017 which was an increase of 22% over 2016. It was also the strongest yearly growth after 2008 as per the latest overseas trade data. The figures have been revealed by the Australian Bureau of Statistics.
Universities Australia Acting Chief Executive Officer Catriona Jackson said that world-class Australian universities are enhancing the success levels year after year. It is in the interest of all Australians that this overseas education success story continues. The investment in quality that attracts overseas students must continue, she added.
The CEO elaborated on the income generated from the education of overseas students in Australia. This directly supports wages, jobs, and living standards across the nation. It’s worth is much more beyond cent sand dollars said, Jackson.
The personal expenses related to Education make up the maximum of the 24.7 billion dollars revenue. This includes living costs and tuition fees, as quoted by the Study International.
Overseas education is the third largest export of Australia preceded by ore and iron. Majority of the overseas students are from India, China, Vietnam, and Malaysia. 45% of the total overseas student cohort enrolls in Business Management. Around 12% of then enroll in Engineering.
Catriona Jackson said that Australia is increasingly emerging as a favored destination for overseas students. This is because of its outstanding quality university research and education as well as openness to the world, she added.
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