INTERNATIONAL STUDENTS HAVE RETURNED – HOW TO FUTURE-PROOF A VALUABLE SECTOR
Author : Dr Alexandra ( Ali ) Bec Co-authors : Dr Safdar Khan , Alicia Liu , Ivanka Kovac , Ed Bartlett
INTRODUCTION Gold Coast hosts more than 31,000 international students each year , across more than 200 education and training institutions , and various study programs . However , international student attraction is facing challenges .
Recent updates to Australian immigration strategies , such as changes in age limits and study timeframe , are already having an impact on international student applications and intakes . Available affordable housing is another serious risk facing international student attraction , requiring purpose-built infrastructure . Understanding the economic impact of international students assists to demonstrate the importance of this sector for the local economy and enable growth to be supported through appropriate advocacy , investment , and economic development initiatives .
Drawing on survey data from international students , this study conducts an economic impact assessment of international education to the Gold Coast economy using Input-Output analysis and Social Accounting Matrices ( SAM ). The research details the economic impact assessment methodology and provides insight into the future social and economic implications .
The education and training industry contributed approximately $ 39.49 billion in value added to Australia ’ s economy for the financial year ending 2023 ( ABS , 2024 ). International student education is a significant component of this industry . International students studying in Australia generated more than $ 36.4 billion in output , through tuition fees , accommodation expenses , and daily spending ( Department of Education , 2024 ). This benefits various sectors such as education , hospitality , retail , and transportation .
The education and training industry is one of the focus areas of Gold Coast ’ s Economic Strategy 2022-2027 and is a significant contributor to the local economy . For the year ending June 2023 , the industry generated approximately $ 2.45 billion in value added , representing 5.4 % of Gold Coast Gross Regional Product ( sixth largest industry ). Total employment in the industry was 31,070 , approximately 9.2 % of total Gold Coast employment . Over the past five years , the industry has grown at an average annual rate of 4 %. The industry also demonstrated resilience during the pandemic . Productivity of the sector increased by 0.4 % in 2020 when many other industries declined . In 2021 , education and training increased by 5.5 %, and was one of the fastest industries to return to pre-pandemic value ( Economy . id , 2024 ).
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