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How Student Exchange Programs Affect the Australian Economy

Personal_Finance / Austrailia Dec 19, 2019 - 02:37 PM GMT

By: Submissions

Personal_Finance

Australian universities are an attractive option for many foreign high school students, especially Asians. This is because Australia offers English language courses and highly specialized, western-style education to students at much fairer and affordable prices when compared to a large number of universities in the UK and the US. It’s also an extremely safe and stable country to study in, boasting a low crime rate and a well-established police system. A comprehensive 2016 survey of more than 65,000 international students found that 93% of the participants had rated safety as an important factor when deciding their destination of study.


Australia is also closer to many Asian countries compared to the UK or the US, due to which the cost and duration of traveling are relatively less. As a result, around 700,000 international students study in various universities across Australia. This amount marks a 10% increase from last year. Chinese pupils make up the largest proportion of these students at 28%, followed by Indians who make up for 15%. A large number of these students also apply to study in these universities via student exchange programs, where they often come from a partner institution within their homeland.

A student exchange program is a more temporary studying arrangement, and these international students tend to live in Australia for a shorter period of time. Below we’ve listed what affect the Australian economy goes through when it comes to student exchange programs.

The Effects of Student Exchange Programs

A large number of international students attending Australian universities helps bring in a large amount of revenue for the economy. In fact, the international education sector is the third-largest export of Australia, trailing behind iron ore and coal, and managed to generate around 32.4 billion Australian dollars in 2018 alone.

The revenue earned helps develop local infrastructure, improves the quality of life, and helps support an estimated 240,000 jobs throughout the country. A study conducted by JWS research surveyed 1500 Australians and found that around 81% of the locals recognized the importance of overseas pupils for their prosperity.

Australian institutes are well equipped with skilled experts and experienced professors who work together to provide students with an excellent learning experience. Aside from studies, the students are also able to partake in various extra-curricular, on-campus and off. These activities can help shape their personalities and turn them into more well-rounded individuals. This also means that international students pay for local goods and services, helping local businesses and traders.

These student exchange pupils may also work a part-time job to make some extra money and gain invaluable job experience. However, as a student, you may get overwhelmed sometimes by the heavy workload and tight schedules in university. In that case, you can pay for your assignment to be completed by any online service such as Edubirdie that specialized in this work. To have easy access to a site that can do your assignment can make a student’s life much easier. That is why they are so popular among working students.

The rising number of foreign exchange pupils attending Australia’s universities has also left some locals worried about declining resources and opportunities. A study by the University of New South Wales that surveyed 1500 people showed that about 62% of individuals between the ages of 18 and 34 believe in placing restrictions for international students. Despite these fears, university students have persevered, and simple analysis of Australian society can show us that international students have not taken up opportunities belonging to the local population.

Conclusion

It’s important for Australia to allow more international students in its educational institutes because not only is it an important source of income, but it also helps improves international ties and the country’s image. Students who graduate from Australian universities think highly of the country. Those who return to their homelands usually recommend that other students consider studying in Australia, while those who want to stay and work within the country offer. Students themselves also make up an important part of the labor force by working in various side jobs.

The best way to cope with the increase in international students without causing much worry amongst the locals is to spread awareness about jobs and opportunities and ensure everyone that there are plenty of them to go around! Considering its popularity, Australia should also consider building a larger and more diverse network of universities that offer a wide array of courses. If Australia does manage to continue its success in attracting overseas students, then it might surpass the US for the most popular student exchange destination in the world.

By Linda Heard

© 2019 Copyright Linda Heard - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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