The loss of hundreds of thousands of international students to Australia’s strict border closures will punch an $18 billion hole in the economy, as the Morrison government warns universities to be less reliant on foreign fees in the wake of COVID-19, WA Today reports.
Research commissioned by The Sunday Age has shed fresh light on the devastating economic impact of coronavirus, particularly in Melbourne’s CBD – which has lost almost half of its student population since December 2019 – and in education hubs in the outer suburbs such as Clayton, Box Hill and Springvale.
The figures come as the sector faces its biggest crisis in decades. Universities have slashed courses and subjects, and at least 17,300 higher education jobs have been lost nationally following the slump in revenue caused by the collapse in enrolments of international students, who pay high up-front fees.
There are now widespread calls for a rethink of higher education funding, which comes in part from the federal government but increasingly from international student fees.
Figures from the Australian Bureau of Statistics show only 360 international students arrived in Australia in January, compared with 91,250 international student arrivals in the previous January.
About 260,000 have been stranded offshore since the pandemic, including Saad Ahmed, who attained his Bachelor of Professional Accounting from Melbourne CBD private college the Holmes Institute in late 2019.
An education industry expert said the Victorian government was lagging behind other states in taking action to restart the flow of foreign students, despite international education being the state’s single biggest export.
“NSW, South Australia, the ACT and the Northern Territory have all advanced their plans but Victoria is still at the drawing board stage,” said International Education Association of Australia chair Phil Honeywood.
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International student losses set to punch $18 billion hole in economy (WA Today)
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