How International Students Impact Australia

International students are a huge part of the Australian economy, bringing in approximately $13 billion worth of revenue to the Australian economy in 2012.

How much money international students add to the Australian economy

Apart from direct revenue such as university fees, which cost up to 3 times more for international students compared to their domestic counterparts, international students drive secondary industries such as housing, food, private tutors and entertainment. Tourism also enjoys a boost from the international students themselves and visiting friends and family, especially at the start of semesters and graduation season.

Tourism is one of the industries which benefits from international education.

Australia offers world-class education in a safe environment - though this has been marred by news of exploitation by employers, dodgy landlords and cases of racism on public transport. Still, students still gravitate to the Australian lifestyle and international enrolments have been increasing.

Australia offers benefits to international students such as work rights (40 hours per fortnight when classes are in session), post-study work rights and pathways to permanent residency for skilled students.

However, Australia should not rest on its laurels. Australia faces stiff competition from other education destinations such as neighbour New Zealand, Canada and the UK. Up and coming countries like China have even leapfrogged Australia to become the world's third biggest destination for higher education students. China, with its comparably cheaper cost of studying, is now a major player in the international education industry.

China is becoming increasingly popular as an international education destination.

To remain competitive, Australia will need to appreciate the industry of international education, and draft policies to protect the international students' rights in terms of housing and work.

Education providers will have to innovate to keep up with the competition, and one way to do it is by adapting new technologies such as automated international student payments processing, which NexPay offers. Visit www.nexpay.com.au to learn how NexPay can help you save!

Sources: The Australian, Australian Education International, The Conversation