After good news from Australia, UK official statistics show a 19% YOY jump in H1 2025 in international student visa applications.
No data yet on visa approvals or student enrollments at UK universities. These will follow in September and October.
Of IDP's 4 major destinations, Australia and the UK are the biggest and most profitable. Australia alone accounts for 41% of IDP's student recruitment revenue. That both destinations are back to growth into FY2026 is very good news.
News from Canada and particularly the USA continues to worsen. The US appears to show imploding demand and very high visa refusals from major markets in South Asia and Africa.
Canada's international program a mess, with Universities unable to meet heavily reduced quotas. A review is underway, but any positive impact will not be seen until FY2027.
IEL Price at posting:
$3.83 Sentiment: Buy Disclosure: Held
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