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International education a win for the economy

The Victorian Government’s effort to grow international education in Victoria is already paying dividends, with the sector’s value to Victoria’s economy reaching a record high of $5.8 billion in 2015.

Analysis from the Department of Economic Development, Jobs, Transport and Resources shows a $600 million increase to the state’s economy – up from $5.2 billion in 2014.

The data, based on information from the Australian Bureau of Statistics, shows international education is Victoria’s largest services export, supporting more than 30,000 jobs.

Export earnings from international education have skyrocketed in the last decade, rising by $3.1 billion since 2005.

Victoria is a leading quality international education provider, attracting around 175,000 students in 2015. The state saw a rise in national market share of international students to 30.3 per cent, up from 29.8 per cent in 2014.

Year-to-date data for 2016 suggests that the growth trend is continuing. International student enrolments in Victoria were 14 per cent higher in June 2016 than at the same period last year.

Melbourne is one of the world’s premier education destinations for international students, with QS Best Student Cities recently ranking Melbourne number two in the world only behind Paris and ahead of Tokyo, London and Sydney.

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