Newly released data from HSBC’s The Value of Education – Foundations for the Future report reveals that Australia is the third most popular destination among parents considering an international university education for their children. In total, 38% of parents from 15 countries rated Australia as one of their top destinations from a list of 50 countries. An Australian education also costs less than other countries such as the US, with the average annual tuition fees for international university students totalling USD26,136 per year.
Today, there are 4.5 million students enrolled in universities outside their home countries and the Institute of International Education forecasts that the number of international students will rise to over 8 million worldwide by 2025, presenting a clear opportunity for Australia to capitalise on this growing market.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
