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Impact On The Australian Economy Including

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Question:

What Is The Impact On The Australian Economy Of International Students Coming Here To Study?

 

Answer:

Introduction

For the purpose of study, those students that cross the international boundary are known as foreign students. These students go in different countries to pursue higher education. Such students cause an impact on the economy in many ways. Foreign students are those students that are defined on the basis of their citizenship. The international students are of great importance in all the countries. They contribute to the economy in many ways. As per reports if we go, the international student contribute to about one-eighth to the income of the entire economy.  If we go by reports, the following facts were stated in context of the international students coming to Australia in respect of studies. As per the reports presented below(International.gc.ca, 2017)

Data from the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) Institute for Statistics (UIS) indicate the top ten host countries for inbound international students (in formal tertiary education only) are: (ABC News, 2017)

United States (19% of total mobile students)

United Kingdom (10%)

Australia (6%)

France (6%)

Germany (5%)

Russian Federation (3%)

Japan (3%)

Canada (3%)

China (2%)

Italy (2%)

In year 2015-2016, the total revenue generated by the international students was in tune to amount of billion in respect of export income which was more than eight present than what was earn in the previous years.  When it comes to export, the export of international students amount to the third largest export of the country after export of iron ores and coal. As per the new data that was released, by the government, the Australian Bureau of Statistics made a confirmation that all over the various universities and other colleges that imparts higher education to the international  billion in student,  they generated cumulatively income to the amount of dollar 13.7 billion in 2015-16. This industry also helps in providing job employment to a large sector of people, which in terms of figures is around 130,700 Australian jobs and helps in sustaining the living standard of the people over there.  It is not only core component of Australian economy it also contributes to maintain the relationship of Australia with the rest of the world.  It helps in development of better communal relationship between different countries, as students of one country go to study in another country.  There is a reason why so many students comes every year to the continent to pursue higher education, the main reason be the quality of world class education that the universities over here offer, also they are benefited by the rich cultural diversity and the fulfilling student experience. It is one of the most sought after country by many students all over the world in respect of pursuing higher education. Over the past fifty years, the student to student relation has helped in developing the country to country relation in the world, it has been the flag bearer for development of international relational, and connecting the continent with the rest of the world.  Through this exchange of students, the government is also paving the way for development of rich trade and culture ties between the nations and that will eventually help in developing of better economic prospects.  As in today more than 320000 students are pursuing international education from around 130 countries around the globe from the Australian institutes. These students are also making contribution to the development of the regional states in the country, with more than five present of the total income from these students goes for the development of the regional states and provinces. Thus there is a lot of advantages that international students has when it comes to the overall development of the international economy and its wide scale growth. The overall impact that was generated by the international students was captured in reports that were issued by the ACPET report in 2013,it covers the overall impact that is caused through various vocational training, education practices, various degrees and higher education facilities, that are provided to the international students by the Australian institute

The overall details about the advantages that international education provides is provided in the data below

State or Territory Full Time Equivalent (FTE) jobs Proportion of State employment Economic contribution(ABC News, 2017)

State or Territory

Full Time Equivalent (FTE) jobs

Proportion of State employment

Economic contribution
(direct & indirect)

Proportion of State gross product

New South Wales

46,903

1.50%

$6.2bn

1.2%

Victoria

39,169

1.60%

$5.1bn

1.4%

Queensland

21,474

1.10%

$2.7bn

0.9%

South Australia

8,430

1.30%

$1.1bn

1.1%

Western Australia

9,984

0.90%

$1.4bn

0.5%

Tasmania

1,474

0.80%

$184m

0.7%

NT

444

0.40%

$66m

0.3%

ACT

2,859

1.60%

$404m

1.2%

Australia

130,737

1.30%

$17.1bn

1.1%

There are also disadvantages that are associated with the international students and have wide scale effect on the economy. The major impact can be put forward in the following points-

 

Interactions between the foreign and the domestic students

Mostly it is stated that most of the students finds it favourable to stay in a foreign country, but sometimes there are issues because a lot domestic students finds it not possible to accept the international students that come to their counties form different part of the world, somewhere they feel that their overall privacy is being hampered by such large scale foreign exchange terms. It is difficult sometimes for the domestic students to develop ties with the international students (Boundless, 2017)

Impact on institutions

 There has been studies about how the advent of the international students can affect the type and the manner of imparting education to the students, abacuses changes have to be done so that the international students get an international experience in terms of the kind of education they are receiving form the institutes, research has been done in this matter a lot. However there has been little or no implication of the same The industries seldom take any decisions based on the needs of these students and efforts to internalise their curriculum of education ,in that way the students re at loss and many since most of the students belonging to different nations have different expectations with the kind of education they want to receive , fails to obtain the same. In this way the economy is hampered because the institutes are not taking efforts ad so many stunts are abstaining from undergoing such courses in the continent.  Thus w see that the overall education format and the institutes policy goes for changes when the same comes in terms with the expectations of the international students. (www.universitiesaustralia.edu.au, 2017)

Impact on the community

International education also has effect on the community in many ways, , there are overall implications in relations between the host country and the international students and how does the effect the economy in so many ways.  There are studies that shows the perceived discrimination on the basis of the home stay and the effect it has on the development of the community as a whole, In some ways if it is helpful in developing relations in other words it is bad also because sometimes, the people are not able to accept these students in their country and if there in any ways, harm is caused to such students the overall ties between the countries gets hampered because of the same Community outreach programmes have been developed and reported on in an ad hoc fashion, but systematic evaluations of these initiatives have not generally been undertaken. (ABC News, 2017)

Conclusion

Hence if we see from a broader perspective, these policies of international education are good and bad, in both ways. It cannot be denied that it helps in developing of the economy in so many ways, but in some ways , it lasso leads to the flow of the foreign direct investments which may not be good for the economy when it comes in terms of money prospect. These policies are advantageous both for the home students and also for the students of the host nations, because each one gets to experience a different kind of cultured experience the out reaches of the world diversity which they might not be able to if they wren pursuing education in their protective environment. Still if we look , the advantages are often outweighing the disadvantages, hence it is important the government developed the best of policies for the benefit of the international student that will eventually help the development of the entire economy in so many more ways. (Educationcounts.govt.nz, 2017)

 

References

International.gc.ca. (2017). Recent Trends in International Student Mobility and Economic Impact. [online] Available at: https://www.international.gc.ca/education/report-rapport/impact-2016/sec-2.aspx?lang=eng [Accessed 27 May 2017].

ABC News. (2017). International student numbers hit new high. [online] Available at: https://www.abc.net.au/news/2017-02-22/record-number-of-international-students-in-australia-in-2016/8291284 [Accessed 27 May 2017].

www.universitiesaustralia.edu.au. (2017). International-education-generates-a-record--20-3-billion-for-Australia. [online] Available at: https://www.universitiesaustralia.edu.au/Media-and-Events/media-releases/International-education-generates-a-record--20-3-billion-for-Australia#.WSlB92dS3IV [Accessed 27 May 2017].

Educationcounts.govt.nz. (2017). The impact of international students on domestic students and host institutions | Education Counts. [online] Available at: https://www.educationcounts.govt.nz/publications/international/the_impact_of_international_students_on_domestic_students_and_host_institutions [Accessed 27 May 2017].

ABC News. (2017). Australia 'most expensive' place for international students. [online] Available at: https://www.abc.net.au/news/2014-09-10/australia-most-expensive-place-for-international-students/5735114 [Accessed 27 May 2017].

Boundless. (2017). Impact of Immigration on the Host and Home Country Economies. [online] Available at: https://www.boundless.com/economics/textbooks/boundless-economics-textbook/immigration-economics-38/introduction-to-immigration-economics-138/impact-of-immigration-on-the-host-and-home-country-economies-546-12643/ [Accessed 27 May 2017].

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