Educating international students has earned Australia a record $20 billion last year, spiking 13% from the previous year. The latest figures firm up education's position as Australia's third-largest export after coal and iron ore, as well as its position as the largest services export, well ahead of tourism, according to a report in The Australian Financial Review.
The lower Australian dollar together with a relatively easier student visa processing program has made an enormous impact on Australia’s education export sector. The total spending by international students in Australia – including course fees, accommodation, living expenses and recreation – was $19.2 billion in 2015, up from $17 billion the previous year, according to figures released by Australian Bureau of Statistics earlier this month.
At the moment there are about 650,000 international students in Australia, 10% more than the previous years. Over 270,000 such students are enrolled in higher education courses and the number of undertaking vocational education is shot-up 14% to 170,000 in 2015.
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