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Business Council of Australia Chief Executive Bran Black delivered a keynote address to the Universities Australia Solutions Summit that repeated the same old myths and fallacies about the vital importance that international students play in the Australian economy.
Is international education a major economic pillar?
Black claims that international education is a major economic pillar:
- Delivering $50 billion of annual export revenue (Australia’s 4th‑largest export);
- Supporting 250,000 jobs; and
- Funding more than half of university research, since federal funding covers only around 45% of university budgets.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.