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Education Exports reach 18.1 billion

Education Exports reach 18.1 billion


 

 
 
   

We want to share some exciting news and join the celebration of an important achievement for the Australian International Education Sector – Education Exports reach 18.1 billion.

 

According to preliminary figures from the Australian Bureau of Statistics (ABS), exports from Australia’s international education sector reached a record high of $18.1 billion during the 2014-2015 financial year.

 

This is a remarkable result that represents an increment of more than 15% in comparison to last financial year.

 

18.1 billion is clearly a large number and we think this is a great opportunity to explain really what it represents?

 

Let us explain first how the Australian Bureau of Statistics (ABS) calculates this figure. The ABS considers two elements to estimate the economic contribution generated by all international education activity.

 

1. The first element considered is the amount of tuition fees paid by international students. This includes fees for higher education programs, VET programs, English Language and others.

 

2. To complement the calculation, the ABS also considers the impact on the economy that results from international students living in Australia while they complete their studies. Basically their living expenses.

 

The combination of both figures gives the grand total of 18.1 billion Australian dollars.

 

Now, 18.1 billion also represents a significant amount for the overall exports of Australia. International Education is Australia’s 4th largest export after iron ore, coal and natural gas. It is the largest services exportand well ahead of tourism.

 

 

As we know, Exports are an essential part of the Australian economy. 20% of the Australian GDP is generated by exports and the international education sector contributes 5.7% of all exports. We are clearly an important part of the economic growth of the country.

 

In fact, the contribution of the Australian international education sector now represents:

  • 3 times more the amount of beef exports
  • 3 times more the amount of wheat exports
  • 3 times more the amount of aluminium exports
  • And in comparison with wool, education services is 7 times more.

 

But also, let’s remember that behind this 18.1 billion, there are thousands of extraordinary stories of international students visiting Australia.

 

These students bring to Australia a wealth of knowledge, improve our international networks, assist us in highlighting Australia’s high quality education system on the world stage, they enrich the study and learning experience of the whole student population and they contribute to the diversity of Australia. Australia is providing these students with world class education and an opportunity to experience life in one of the world’s most liveable countries.

 

Behind this figure there are also hundreds of individuals working every day to provide a quality experience to students and extraordinary initiatives of academic collaboration and innovation. The Hon Christopher Pyne MP suggests that over 130,000 Australian jobs are now supported by the industry.

 

As we know, the benefits of international education are so big… that simply… we can’t put a dollar amount on it.

 

At Studymove we are passionate about stats and we would like to join the celebration of this remarkable result and congratulate everyone in the Australian international education sector.

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