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CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 30 October 2015

2016 the greatest ever for foreign students

Record foreign students

The Department of Immigration and Border Protection released its June 2015 figures for international students, which showed the total number of international students in Australia burning more than 10 per cent higher over the past year, partly in response to the lower Australian dollar. 

At the end of April there were some 422,313 student visa holders in the country. 

What is more, visa applications lodged have also surged by more than 10 per cent, thereby all but ensuring that 2016 will be the greatest ever year for international students in Australia, eclipsing even the great spike of 2008/9.

As for where the visa applications are coming from? The answer is Asia, and increasingly the People's Republic of China. The applications on hand data suggests that we can also expect to see an increase in students from India in 2016.

Second visas

The pace of growth in applications lodged implies that 2016 will see another surge in student numbers to record levels.

It is important to recognise that a large and now increasing number of students go on to apply for second visas and often find a path to Australian residency.

The visa types that students move on to include post study work visas, 457 visas, working holiday visas, permanent points-test visas, and other substantive visas.

Migration experts see this opening up of the higher education field as one of the most production and effective shifts in economic policy in recent times. 

Where to?

With the relaxation of visa rules in the higher education system and a strong push from Universities for greater access to post study work visas, Reserve Bank forecasts show a huge surge in net immigration related to student visas.

The student visa boom is overwhelmingly set to be a capital city phenomenon, and RBA forecasts show a projected jump in the net immigration of students into Sydney, Melbourne, and to a lesser extent Brisbane.