Studymove, a marketing intelligence platform has predicted an increase of 8% to 12% in enrollment rates of international students in Australia in 2023. The Australian sector has witnessed an impressive recovery in 2022 with a rise of 32% in students commencing their courses as compared to 2021.
The countries that have impressive commencement rates are India and Nepal both of which have +136% growth and Vietnam which demonstrates 47% growth. Keri Ramirez, MD of Studymove noted that this trend of positive commencement trends was more prominent for masters programmes.
The company expects that in Australia, international student enrollment will reach 3,47,000 at the end of 2022. A problem which they faced in 2022 was that only 58% of the students from 2021 moved to 2022.
The new challenge for 2023 is how many students are going to continue their studies. They are expecting to have 1,41,000 students by the end of the year. They are expecting to see growth in student enrollment for the first time in three years.
If Australia sees similar enrollment trends in 2023 as in 2022, then they hope to have 366,550 international student enrollments. With the opening of the Australian borders, the market conditions have improved.
Ramirez explained that the number of student visa applications in the second half of 2022 testifies that the demand is now close to 2019 levels and strong growth is expected in the next year.
A challenge that the country will face is inflation which will lead to an increase in tuition fees in Australian institutes. The lagging effect of Covid 19 has resulted in a 4% decrease in student enrollment as compared to 2021.
The institutions in 2023 will be looking closely at how an increase in the cost of living impacts international students, China’s decision to open up international travel and how a strong Australian labour market influences the decision of international applicants.
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Source: The PIE News