Looking back at the composition of the major source of foreign student, china, India and SE Asia happen to be the vital component.
Major influx of foreign student happen to start around year 2005 and peak at end of 2009 at 600k international student in australia. That figure actually coincide with the change to the eligibility of Permanent visa in australia.
Majority of Chinese student post 2009 came to australia with only one purposes and that was the residency. How I knew that, I have business relation china who specialise in this area alone. thing started to change when the migration law changes. Foreign students especially those from china and India who not passing the migration pool marks are turning to Canada and US for their residency status. The words spread and student intake in US and Canada are enjoying a bigger share of intl student. The pie of Oz edu is worth around 16bil+ at the peak of 2009 and has dropped to around 13bil recently if not mistaken.
Edu is a long term investment for Asian parents, course fees and AUD are not the main driving factor, rather is the policy of migration and prospect of job security of australia which dictates the decision IMO.
Australia recent visa 888 cost 5 mil vs American visa eb5 worth 500k. Furthermore, parents bought the house outright in US and Canada for their children education as well as investment.
Desperate time needs desperate measure, I won't be surprise the new elected gov will once again re open the flood gate of Asian migration to boost asset price and of course to fill the deficit.
