Analysis conducted by economists at NAB (National Australia Bank) shows that international student spending contributed to more than half of the country’s GDP growth of 1.5 per cent last year.
The number of international students increased to more than 640,000 in the past year, surpassing the number before the pandemic.
Their spending as a group, boosted GDP growth last year by eight per cent.
Although most of the funds flow directly to higher education, sixty percent of its spending is channeled into goods and services.
Many in the higher education sector fear the international student boom is over.
Visa acceptance was tightened by the government — as part of an overhaul of migration programs.
The number of student visa approvals has fallen sharply since 2022.
Just over 90,000 were awarded in the last quarter.
Analysis conducted by economists at NAB ((National Australia Bank)) shows that international student spending contributed to more than half of the country's GDP growth of 1.5 per cent last year.
The number of international students increased to more than 640,000 in the past year, surpassing the number before the pandemic.
Their spending as a group, boosted GDP growth last year by eight per cent.
Although most of the funds flow directly to higher education, sixty percent of its spending is channeled into goods and services.
Many in the higher education sector fear the international student boom is over.
Visa acceptance was tightened by the government -- as part of an overhaul of migration programs.
The number of student visa approvals has fallen sharply since 2022.
Just over 90,000 were awarded in the last quarter.
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