The latest Access Economics report on the contribution of overseas students to the Australian economy has revealed that they are vital to the economy in propping up jobs. A drop of 5 percent in the number of overseas students to our colleges and universities would cause 6300 Australians to lose their jobs.
The report has estimated that overseas students and their families spend $14.1 billion each year in Australia, creating an extra $12.6 billion in “value added” goods, services and jobs. For every four overseas students who come to Australia, more than one Australian job is created.
The report comes after news that the Government is set to cut the skilled migration intake by 14 percent next year, (read the full story here).
Australian Council for Private Education and Training national executive officer Andrew Smith, said the report highlights the risk to Australian jobs if migration intakes were to be cut.
“Our sector is one of the best performing industries in the country, employs more Australians each year and has proven extremely resilient to the impact of the global financial crisis.”
Other findings include a growth of 42 percent in the export education industry in the three years to 2008, employing 126,000 people, contributing 1 percent of the nation’s GDP.
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