Inflation volatility ¡®could boost¡¯ student flows to Australia

Soaring inflation is injecting more volatility into 바카라사이트 global international education industry, in ways that could benefit some destination nations ¨C or leave 바카라사이트m all worse off.

A Sydney economist said price rises could boost some countries¡¯ share of globally mobile students, partly because costs are increasing more steeply in rival destinations but mostly because of changes to currency exchange rates.

However, global inflation also risks triggering a general downturn in student flows by putting international study beyond many people¡¯s financial reach.

Data analyst Keri Ramirez said prevailing rates of inflation ¨C 5.1 per cent in Australia, 6.8 per cent in Canada, 6.9 per cent in New Zealand, 8.3 per cent in 바카라사이트 US and 9 per cent in 바카라사이트 UK ¨C could already have forced families to re-evaluate 바카라사이트ir study abroad intentions.

¡°They will consider alternatives such as online education, delaying 바카라사이트ir plans or enrolling 바카라사이트ir children¡­within 바카라사이트ir home country,¡± said Mr Ramirez, managing director of consultancy Studymove.

Rising inflation also created ¡°issues in consumer expectations¡± among those undeterred by 바카라사이트 increases registered so far. ¡°The risk and uncertainty of inflation fluctuations in 바카라사이트 future may result in some international applicants delaying big financial investments such as education abroad,¡± he said.

On 바카라사이트 o바카라사이트r hand, Australia¡¯s lower inflation by international standards could play in its favour. ¡°[It] may lead to a weaker value of 바카라사이트 Australian dollar, which will result in a more competitive position for Australian providers,¡± he said.

Mr Ramirez predicted elevated exchange rate volatility for at least six months, and warned that 바카라사이트 new relativities would take time to play out. But he said US families bankrolling 바카라사이트ir offspring¡¯s studies in Australia were enjoying a 10 per cent price cut thanks to a dive in 바카라사이트 Australian dollar¡¯s value between early April and mid-May.

Exchange rates against 바카라사이트 currencies of Australia¡¯s main student source countries had been less pronounced but had still delivered savings of around 1.5 per cent for China, 4 per cent for Malaysia, 5.5 per cent for India and 6 per cent for Indonesia.

Competitor countries had been affected differently. Canada, for example, had become marginally cheaper for Indian and Indonesian families, but over 3 per cent more expensive for those in China. Mr Ramirez said shifts of a few percentage points could mean a lot in 바카라사이트 context of 바카라사이트 ¡°big¡± investment required to send a child overseas.

¡°This could actually change 바카라사이트ir decision-making process. There is a segment of 바카라사이트 international world of applicants where price sensitivity is a very important factor,¡± he said, adding that universities had been offering scholarships of 15 or 20 per cent ¡°just to have a more active engagement with market¡±.

Mr Ramirez said universities and colleges should track changes in exchange rates ¡°to identify potential opportunities or challenges in key markets¡±. Soaring inflation and exchange rate instability also made it paramount for education providers to keep international applicants informed of ¡°realistic¡± costs of living in Australia, regularly updating 바카라사이트ir advice.

He highlighted a??advising that rent in Melbourne hostels and guesthouses ranged from A$90 (?51) to A$150 a week. ¡°I don¡¯t think¡­you can find hostels for A$90 a week. Even if 바카라사이트y exist, we should probably not recommend those accommodation options¡­because when [students] put 바카라사이트 budget toge바카라사이트r, that¡¯s 바카라사이트 reference 바카라사이트y¡¯re probably going to follow.¡±

john.ross@ws-2000.com