International education is the third largest source of overseas earnings for Australia, generating around $12 billion in 2008 and supporting more than 125,000 jobs. Over 93,000 Indian students are currently pursuing higher education in Australia.
As on year-to-date (YTD) April 2009, there were 436,895 enrolments by full-fee international students in Australia on a student visa. China and India were the largest markets in both enrolments and commencements (starting date). China accounted for 24.1 per cent of enrolments and 24.2 per cent of commencements; India accounted for 18.7 per cent and 16.7 per cent respectively. “Management and Commerce” was the top broad field of education in the higher education sector, accounting for 47.1 per cent of enrolments and 47.5 per cent of commencements.
Almost 40 per cent of Indian students, who opt for international education destinations prefer the US, followed by 25 per cent for the UK, 20 per cent for Australia and the rest spread across Canada, Singapore, Dubai, New Zealand and other countries.
Australia’s loss may be UK and Canada’s gain, say industry observers. While the US, which attracts the highest number of students from India, is still suffering from recession, students are wary of opting for it.
Also, the cost of studying in the UK and Canada works out cheaper as compared to Australia. In these times, students will consider this factor say industry players. While UK and Canada have a one-year masters degree, Australia has two years.
A student shells out around Rs 10-15 lakh in the UK; 14-15 lakhs in Canada for a masters degree. While the same cost in Australia works around Rs 18-25 lakh.