So Oz is not the be all and end all of IDP's business, but the MYEFO is talking about getting net overseas migration cut to 235k over about 4 years (this year it is 500k I believe). And students seem to be a major category within this. New Zealand net migration is currently subtracting 126k from this, so excluding NZ we are at 620k, and might be falling to 360k net of NZ. So about a 42% reduction in total. Students might be higher.
Keen to hear if there are any estimates re student numbers. Acc to a media release Jefferies analyst used a 17% fall in numbers, or 70000 placements for modelling (suspect they are providing this as an example not expectation) - don't have details of their analysis. Seems to be just UK and Australia, if I read it correctly.
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So Oz is not the be all and end all of IDP's business, but the...
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