Education becomes one of Australia’s leading exports
According to a new report of Australia, higher education is becoming one of the country’s leading exports, contributing significantly to the economic prosperity of the country.
Foreign students play a leading role in the economies of Australia’s largest states of Victoria and New South Wales. Education is the biggest export of Victoria and one of the biggest in New South Wales.
Universities Australia’s chief executive Belinda Robinson said the report highlights the contribution of international education to Australia’s economic prosperity as it finds education exports have doubled in value every five years from 1990 to 2010, overtaking tourism as the top service export in 2007/2008.
Currently, young people from more than 100 countries are choosing Australian as their destination for university studies and universities are working hard in order to attract even more students from abroad.
International education has the potential to underline the future economic prosperity of many Australian states and to contribute to the cultural diversity in the country as well as to the Australian influence all over the world and particularly in Asia.
Education is considered one of the highest growing industries globally. It is expected that by the end of the year 2033 the number of enrolled higher education students around the world will reach 330 million from 96 million in 2000.
Therefore the value that the education export has for the economy is critical for diversifying the Australian economy from the over-reliance of the resources boom, especially now when the prices of the commodities in the international market are falling.
In addition to that, a lot of international students have good chance to find a job in Australian after they graduate due to the persistent labour shortages in the country and the fact that Australia currently has very liberal policies towards fresh graduates from abroad.