International students’ contribution to Victorian economy reaches a record high of $5.8bn

31,758 students from a total 175,000 international students came from India in 2015.

Source: Wikipedia

The Victorian Government today announced how international students’ contribution to Victorian economy has touched a record high of $5.8bn in 2015.

The state government announced that international education sector’s value to Victorian economy was $5.8bn in 2015 compared to $5.2bn in 2014.

Chinese, Indian, Vietnamese and Malaysian students make up the bulk of Victorian international student enrolments, which grew by 12 per cent in 2015, according to Australian Bureau of Statistics figures. 

31,758 students from a total 175,000 international students came from India 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.

This data, based on information from the Australian Bureau of Statistics, also 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 attracted around 175,000 international 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.

And 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.

Minister for International Education Steve Herbert said, “With some of the world’s best universities, a vibrant city lifestyle and unique cultural identity; it’s not hard to see why Victoria continues to be a premier destination for students.”