Overseas Student Drop Could Hurt the Australian Economy!

The new Australian rules and regulations pertaining to overseas students can cost its economy high. Reports say that the country will hurt about $2.9 billion of its export income, thanks to the newly amended immigration regulations. The country will see a huge cut in the incoming number of international students in the next one year. The figure would be down almost 125,000 students, as compared to the figure of the previous year. The cut in the number of international students is likely to cost more than 31,000 jobs in Australia.

As per the immigration department’s estimation, Australia’s one of the most popular student destinations, Victoria will missed out about 40,250 overseas students in the next year. The fewer students in the state would definitely cost around 10,100 jobs. Victoria would hurt 1.17 billion Australian dollars in its export income. This figures is more than  one quarter of the entire value of Victoria’s biggest export industry. According to the reports from the Australian Council for Private Education and Training, the entire nation will hurt 3.6 billion dollars (Australian), courtesy the decline of overseas students to the country.

Prior to the implementation of the new immigration measures, regarding international students, the nation’s international education industry valued about 17 billion dollars. The industry would fetch more than 3 billion dollars alone to Victoria, per year. The amendments to the immigration policies have brought significant changes to the number of students entering Australia. The number of Indian students fell drastically, followed by China other countries like Malaysia, Korea and Vietnam.

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