Recent findings suggest that Australia has ascended to the zenith of the globe in terms of education, ranking alongside Canada, even as it combats escalating rental challenges.
The outcome of a recent survey by IDP Education, esteemed global education experts, aptly named Emerging Futures 4, uncovered an intriguing trend. In only a span of five months, Australia’s educational prestige saw a two per cent upshoot since the preceding survey.
Nevertheless, from the voluminous pool of international students surveyed, 35 per cent confessed that their rent expenses in proximity to their campus surpassed their original budget. An equivalent fraction of participants testified that they were compelled to rent living spaces far removed from the campus in efforts to conserve finances.
Simon Emmett, the leading authority at IDP Connect, emphasised the accessibility of change in perspectives and determinants that students weigh in their decision-making process. The top-four educational destinations worldwide, he posited, cannot presume sustained prominence hinged on past laurels and rankings.
Emmett further explained, “Policy changes, dynamic shifts within institutions and global economic conditions all have the power to affect a destination’s standings.”
This data surfaces amidst Australia’s expanding rental predicament pervading its major cities. Interestingly, in the preceding month, a Senate inquiry dealing with the living cost was informed of a shocking 17 per cent augmentation of average rents in Perth since May 2022. Mortgage averages, in contrast, witnessed an unprecedented 50 per cent soar.
Of the 10,000 international students that participated in the survey, approximately a quarter nominated Australia as their preferred study destination. Falling behind Australia and Canada were the United Kingdom and the United States, with 22 per cent and 19 per cent respectively. Notable demographics that highly rated Australia as their study destination of choice included students from Nepal, Vietnam, and Indonesia.
The perceived employment opportunities for graduates as well as strategically crafted post-study work policies enhanced Australia’s appeal. The report encapsulated the trend stating, “Students continue to choose Australia for its high-quality of education and because it is a safe country for international students, with these factors seeing a 3.6 and 3 per cent increase respectively.”
These insights follow a previous Grattan Institute report which found that only half of the international student body residing in Australia managed to secure employment post-graduation.
In closing, recent data revealed that as of July this year, there were approximately 654,870 student visa holders in Australia. This number is projected to swell up to 750,000 by the end of the year.
