Australian universities said Wednesday they expect the falling value of the local currency to restore competitiveness against rivals for foreign students, after a global survey showed it to be the most-expensive country for studying abroad.
The survey by banking giant HSBC put the combined average cost of university fees and living expenses in Australia at 38,516 US dollars a year for foreign students, against 35,705 dollars in the US and 30,325 dollars in Britain.
Australia places third in foreign enrollment, behind the US and Britain. Australia's two main rivals account for 30 per cent of the estimated 3.6 million people enrolled at universities in a foreign country, 17 per cent of whom are from China.
"When the Australian dollar was a lot lower than it is now we were price competitive at that point," David Richards, Sydney branch manager of IDP Education Pty Ltd, part-owned by the nation's 38 universities, said.
With the local currency having lost 12 per cent in value against the US dollar this year, Richards predicted a restoration of competitiveness.
"That's what we hope the market will see and respond to," he said.
HSBC noted that foreign students in Germany pay an average of just 635 dollars a year in tuition fees, lowest among the 13 countries with the largest overseas cohorts.
Australian degrees most expensive for foreign students
Australian universities said Wednesday they expect the falling value of the local currency to restore competitiveness against rivals for foreign students, after a global survey showed it to be the most-expensive country for studying abroad.
The survey by banking giant HSBC put the combined average cost of university fees and living expenses in Australia at 38,516 US dollars a year for foreign students, against 35,705 dollars in the US and 30,325 dollars in Britain.
Australia places third in foreign enrollment, behind the US and Britain. Australia's two main rivals account for 30 per cent of the estimated 3.6 million people enrolled at universities in a foreign country, 17 per cent of whom are from China.
"When the Australian dollar was a lot lower than it is now we were price competitive at that point," David Richards, Sydney branch manager of IDP Education Pty Ltd, part-owned by the nation's 38 universities, said.
With the local currency having lost 12 per cent in value against the US dollar this year, Richards predicted a restoration of competitiveness.
"That's what we hope the market will see and respond to," he said.
HSBC noted that foreign students in Germany pay an average of just 635 dollars a year in tuition fees, lowest among the 13 countries with the largest overseas cohorts.
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending
Latest Videos