In an effort to manage the surge in home rental prices attributed to record migration, Australia has announced plans to limit the number of international students enrolling to 270,000 by 2025. This decision is part of a series of measures aimed at making the international student sector “better and fairer,” according to Education Minister Jason Clare.
The reforms come as international education, one of Australia’s largest export industries, worth A$36.4 billion to the economy in the 2022-2023 financial year, faces concerns about its impact on the housing market. Net immigration hit a record high in the year to September 30, 2023, surging 60% to a record 548,800.
To contain the surge in migration, the government has also increased visa fees for foreign students and pledged to close loopholes in rules that allowed them to continuously extend their stay.
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