Australia beat the US, Britain, Germany, Canada and Hong Kong as the most expensive destination for international students, costing an average $US38,000 ($41,500) a year in fees and living costs, according to a HSBC Bank study of 13 countries and territories.
But despite its pricey reputation, Australia has remained one of the world’s most popular destinations for international students.
HSBC Australia head of personal financial services Graham Heunis said the falling Australian dollar looked set to give the nation an even bigger boost in the popularity stakes after the high currency saw a 12 per cent drop in international enrolments between 2009 and 2012.
He said changes introduced last year to streamline international student visa processing would also help increase the influx of students.
“While Australia has continued to enjoy higher economic growth than other western markets over the past five years, this has also led to a higher Australian dollar which has placed a strain on the price competitiveness of our export sectors, including education,” he said.
“The falling Aussie dollar and simplified visa process should spark a resurgence in overseas students placing Australia on top of their destination lists.”Source: The Australian – Australia ‘most costly’ study destination for international students
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