Collzy

A race by Universities to recapture lucrative international students

A race by Universities to recapture lucrative international students

By announcing a new education partnership with India this month, Australia is seeking to reduce its reliance on China. This will make it easier for the recognition of the degrees earned in each other’s countries. A branch campus will be established by Deakin University in India. This is a common strategy that has mitigated the impact of border closures induced by the pandemic.

Universities around the globe had to face a recession due to the decrease in international students when the borders were shut, as international students made up a sufficient part of the revenue. However, even after three years of the pandemic, there are no signs of a decrease in dependence and it has indeed doubled.

English-speaking countries are in a heightened race to attract international students. The reopening of China and its demand for the students to get back comes amid the race. Education is the fourth-biggest export in Australia. Last month, more than 28,000 Chinese students returned to universities. Moreover, the eligibility is still held by another 35,000 visa holders from the country.

Last year, there were as many as 746,000 international enrollments in total along with the numbers are expected to return to pre-Covid levels as early as 2025 at top institutions. There has also been faster growth in the UK, the US and Canada. On the global level, the pandemic has upended the multibillion-dollar international student market.

In the US, new enrollments plunged 46 per cent in 2020-2021. This was because, many overseas students deferred or paused their academic plans. Unions say the staff took pay cuts to nearly 15 per cent in 2020 in Australia. From 2020 to 2021, the higher education workforce has slumped by 8.3 per cent according to government figures. Universities are trying to future-proof their business models as they are keen to avoid such pitfalls.

By announcing a new education partnership with India this month, Australia is seeking to reduce its reliance on China. This will make it easier for the recognition of the degrees earned in each other’s countries. A branch campus will be established by Deakin University in India. This is a common strategy that has mitigated the impact of border closures induced by the pandemic.

In opening overseas campuses, American and British Universities are the most active. According to the Cross-Border Education Research Team, they account for about a third of such arrangements across the world. For instance, the degree-granting campuses of the New York University in Abu Dhabi and Shanghai had international enrollments very strong throughout the pandemic. There was a program that allowed students to study at New York University campuses or centers in their home countries.

Contrary to that anticipated by many, the snapback has been faster with several leading universities in the US already encountering international student enrollments at the pre-Covid levels. Moreover, a decade earlier, the UK achieved its 2030 target of hosting 600,000 international students. Also, in Australia, there has been an influx of 143,000 international students as there is an end to online learning.

Students claim that they can learn better from each other with face-to-face learning and that it gives the best results and outcomes. Moreover, the benefits in terms of the economy are also clear. When some 5.5 million students globally traveled to study to overseas in 2019, the exports in education totaled $26.9 billion for Australia alone. Moreover, the education exports in the UK and the US accounted $30.8 billion and $44 billion respectively. It has also been predicted that as many as 9.5 million students shall be traveling overseas by 2030 to study.

However, with the recent influx of downside risks, economists in Australia are worried. At this moment, inflation is a hot topic. The money spent by students while they are staying in Australia will add to general services inflation. In places such as Sydney, a rental crisis is also exacerbated. More costs are being paid for normal and really basic apartments. Moreover, to a tight higher education workforce, surging enrollments are adding pressure. This sector is yet to recover from pandemic-induced job cuts.

Workers locked in pay negotiations at the University of Sydney have staged several days of strikes since the beginning of 2022. Recently, at the key entrances to the university, hundreds of staff formed picket lines. University must invest in resourcing staff. This will help them do their jobs properly. It is often seen that people who are charged with teaching large numbers of international students are not supported well.

As the industry continues to recover from the pandemic, striking a balance between revenue generation and safeguarding academic standards and the experience of the students will be critical. Thus, the major risk faced is the commodification of education rather than being a once-in-a-lifetime investment.

Thank you for reading! Please submit your details in the link below in order to help us reach out and help you with your college admission queries.

To know about counselling for Abroad studies and more Information like this make sure to visit our site Collzy now!

Leave a Comment

Your email address will not be published. Required fields are marked *