“The Australian Department of Education on 24 May 2024 released its annual Finance Tables for 2022, providing data from the 2022 financial statements for higher education providers. This release provides the opportunity for a belated look at the extent to which universities in Australia relied on revenue from fees from international students in 2022, ahead of the third perfect storm.It is important to note that this belated release covers 2022.
There is a full year of data for boom year 2023 yet to be released before the impact of the 2024 perfect storm will be measured.In 2022, the 41 Australian universities in 2022 had total revenue of $34.68 billion, from $38.86 billion in 2021.
The 41 Australian universities in 2022 earned $8.57 billion from international student fees, from $8.72 billion in 2021.
In the first perfect storm, revenue from international student fees was flat at $3.88 billion in 2010, $4.12 billion in 2011, $4.13 billion in 2012 and $4.29 billion in 2013, then grew to $7.46 billion in 2017, $8.84 billion in 2018 and $9.98 billion in 2019, before the second perfect storm saw a drop to $9.22 billion in 2020, $8.72 billion in 2021 and $8.57 billion in 2022.”.
https://thekoalanews.com/international-student-revenue-2022/…………….
Rework part section Educational Potential Income ONLY from Novatti payments embedded structure that estimates the potential annual revenue for Novatti from processing international student tuition fees. Assumptions.
Total Number of International Students - Approximately 850,000 international students currently study in Australia.
The total revenue from these students’ tuition fees is Estimated at AUD $9.00 billion for 2024 for this example.
Reference - (Financial Data from the Australian Department of Education - 2022 Financial Overview: - The 41 Australian universities generated total revenue of AUD $34.68 billion in 2022. - Revenue from international student fees was AUD $8.57 billion in 2022).
Estimating Potential Revenue for Novatti - Number of International Students - 250,000 (approx 30% total Australian international students) at 30 universities using Novatti’s payment systems.Proportion of Novatti Student Revenue processed for 250,000 students: (250,000 / 850,000) AUD $9.00 billion = AUD $2.65 billion
Novatti’s Processing Fee - Lower Estimate 1% of AUD $2.65 billion = AUD $26.5 million / Upper Estimate: 2% of AUD $2.65 billion = AUD $53 million
Potential Annual Revenue for Novatti - Estimate Range: AUD $26.5 million to AUD $53 million annually
This estimate reflects the potential annual revenue that Novatti could generate from processing tuition fees for 250,000 international students, representing a substantial portion of the overall market in Australia.
The actual revenue would depend on the specific processing fees and agreements Novatti has with each university.
Comments, criticisms and corrections welcome.
Cheers Anton
