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The international education sector has become so economically crucial to Australia that we cannot afford to lose it .
Standing out from the pack
Critical innovation is key to Australia ’ s higher education future .
By Pramesh Khadka
According to recent data from the Australian Bureau of Statistics ( ABS ), the Australian economy may lose a massive $ 40 billion by 2023 due to a significant drop in the influx of international students caused by the pandemic and border restrictions .
The value of international students to the Australian tertiary education sector has remained high for over a decade . Indeed , while the revenue coming in from domestic students has been flat , Australia has seen a 50 per cent increase in overseas students pre-pandemic .
ABS data also shows that international students make a major contribution to Net Overseas Migration ( NOM ) comprising 44 per cent of the total NOM or 105,000 from the total of nearly 237,000 in 2017 . To put it simply , the international education sector has become so economically crucial to Australia that we cannot afford to lose it .
Traditionally , every education provider has had to rely upon its own in-house marketing ability and engage with education recruitment partners to recruit international students from overseas markets . This includes heavily relying on education agents which often only reach a niche market – therefore limiting the quality and diversity of students .
Additionally , border closures from COVID-19 impacted both parties drastically . Prospective international students are fast becoming frustrated due to the uncertainty of international travel bans and tertiary education providers are forced to come up with innovative plans to navigate these uncertainties . These issues collectively set a benchmark for Australian education providers to think outside the norm , implementing innovative technologies both to address immediate threats while also moving into new models and modernisations in the future .
At times , innovation does not necessarily mean creating something from scratch but also relying on existing information and research and coming up with better ways to solve a problem . The pandemic has both highlighted and accelerated the pace of technological advancements and Australian tertiary education providers must adapt to keep up .
It ’ s no secret that competition is becoming tough within the higher education space , not only domestically but internationally . Being able to stand out , cut through and boost enrolment and engagement is crucial .
Education providers need to innovate , not only to survive but to stay relevant and stand out . While innovation can be a great thing to implement , there will likely be competing forces . Only those who are ready to adapt and take a step outside the box will reap the benefit . Innovation and digital advancement , when implemented correctly , can become a big part of the solution .
Arguably , one of the hardest challenges for Australian education providers currently is how to keep their offerings attractive and recruit prospective domestic and international students . Technological solutions like tertiary education comparison site Educonnect encourages education providers to explore new ways to promote their course offerings .
In India , each year more than 750,000 students are looking to study abroad for further education . With border restrictions , Australian tertiary education providers must think of new ways to present their offering to them in the best way possible as one of the best destinations for quality education when the traditional recruitment route can ’ t be relied upon .
It is equally important that these services are available for domestic students in Australia , allowing them to search and discover the courses that will help them achieve their future career aspirations , and ultimately increase student satisfaction and reduce dropouts .
The complex nature of the higher education system can present its own challenges for innovation . However , there ’ s no denying the fact that the world is changing by the day and as we embrace this tech-driven economy , education providers must be able to meet the challenges head-on and seize the opportunity . ■
Pramesh Khadka is the founder of Educonnect .
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