International students are worth $30,000 per year to the economy, creating Australia’s third largest industry after mining and agriculture.
Study Gold Coast has released a report on the value of international students to the economy.
The report opines that each international student is worth $30,000 a year to the economy.
More recently, the high Australian dollar, the global recession and the Federal Government’s changes to student visa rules have all damaged this valuable industry.
Indeed, the value of Australia’s international education trade shrunk by some 15 per cent last financial year, with a reduction of A$2.7 Billion from an industry worth A$18.5 Billion in 2009-10.
Australia is the third largest provider of international education, after the US and Britain.
One in five tertiary students in Australia are international students.
Last financial year, 20 per cent of successful student visa applications were from China, whilst 12 per cent were from India.
Many international students study in Australia to secure residency visas.
The Migration Place believes that there are compelling economic reasons to encourage international students to stay here so that their newly found skills can contribute to the Australian economy.
We have been helping clients migrate to Australia for over ten years, and it is clear that migrants tend to be extremely motivated people willing to leave their comfort zone and networks behind to improve their lives.
The best thing Australia can do for its future economic success is to promote our education system overseas, and to stop changing the visa rules every few months.
We need a reliable consistent visa system that overseas students can invest in, knowing it is a sure road to residency.
The Migration Place strongly advises that anyone wanting to live in Australia, should apply as soon as eligibility is confirmed.
This avoids the risk of the visa rules changing.
Throughout Mr Bentley’s 10+ years as a registered migration lawyer, the rules have been changing regularly and consistently every few months.