Vietnam ranks top 5 contributors
$1.34 billion in Australian education
- International education exports in Australia contribute $35.2 billion to the economy
- Vietnam is currently ranked in the top 5 most profitable countries for Australian education. Income from Australian education exports from Vietnamese students in 2018 increased by 7.1% compared to the previous year and is expected to continue to grow strongly in 2019.
Education remains one of Australia’s billion-dollar industries. In 2018, it contributed $35.2 billion to the economy, up 16.4% on 2017. Vietnam was among the five strategic markets, contributing $1.34 billion in education export revenue.
In 2018, Vietnam ranks 7th among countries with students coming to Australia But the profits that Vietnamese students bring to the top 5 with a growth of 7.1% in profits compared to the previous year ($1.34 billion in 2018 compared to $1.25 billion in 2017). This number is still on the rise, and there is a trend shift from large cities such as Melbourne, Sydney, to regional areas such as Darwin or Tasmania.
Along with Vietnam in the top 5, the top 4 positions belong to China, India, Nepal and Malaysia. While China has consistently held the top position with steady growth and a dozen-fold gap compared to other countries, Nepal and India are considered to have the most outstanding growth this year when the rates are 63.9% and 33.3%, respectively. Brazil also became a “bright star” by becoming a potential market with an admirable growth rate of 25.1%.
Education exports are a major source of revenue for the economy as Australia's tuition fees rank fourth in the OECD (34 countries with the world's most developed economies), after New Zealand, Canada and the US – according to 2015 figures. Accordingly, the average cost for a year of bachelor's degree, international students have to pay more than $16,000.
This number is also increasing year by year, leading to Australia's growing revenues. Australia is also rated as one of the 10 best study abroad destinations in the world.
Source: Internet
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