Without foreign students, it’s estimated to lose AUD 2 billion in 2021
The Australian education sector is going to suffer a serious setback if it does not come up with a solution to bring back its foreign students and the government is not taking any initiative to address the situation.
Dominic Perrottet, treasurer of New South Wales (NSW) State, has proposed a plan to bring overseas students back and put the stranded sector under the spotlight again. This week, he recommended quarantining arriving foreign students in the Tasmanian island, in a bid to get around strict limits on the number of overseas arrivals each Australian jurisdiction can process.
After the plan was rejected, he asked for changes in the international arrival norms and to use some of the caps to bring the international students back. The international educational sector in Australia was worth AUD 40.3 billion in 2019, making it the country's fourth-biggest export.
According to the figures from the Australian Bureau of Statistics (ABS), the border closure blocking international students from entering Australia cost the education sector a huge loss in export revenue of nearly A$9 billion in 2020.
Earlier this month, the federal government made an announcement to extend the border closure for at least another three months to mid-June, as well as the current arrival caps, further extended the predicament. Without foreign students, the education sector is estimated to lose a further 5.5 % or AUD 2 billion in 2021, according to the varsities in Australia.