International Student Revenue Soars, Aiming for $7.2 Billion by 2034

The economic contribution of international students to New Zealand has seen significant growth, with recent data highlighting a surge in education-related travel exports. According to new figures from Stats NZ, these exports rose to $4.52 billion in the year ending September 2023, an increase from $3.6 billion the previous year. Education New Zealand has set an ambitious target to elevate this figure to $7.2 billion by 2034.

In an interview with broadcaster Mike Hosking, Amanda Malu, Chief Executive of Education New Zealand, expressed optimism about the growth across various sectors of the education system. She noted that universities have reached record enrolments, while both schools and private training institutions have also experienced substantial increases.

Growth Across All Education Sectors

Malu highlighted that the rise in international student numbers is not confined to one area, stating, “The growth is across all sectors, and there’s still room to expand.” She pointed out that private training has seen a remarkable increase of 33%, indicating a robust demand for diverse educational offerings.

The rising enrolments in universities reflect a broader trend of international students choosing New Zealand as a destination for higher education. Malu emphasized the importance of maintaining this momentum to achieve long-term economic goals. “We are committed to making New Zealand a top choice for international students,” she added.

Education New Zealand’s strategy involves not only enhancing the appeal of New Zealand’s educational institutions but also expanding the support systems in place for international students. This includes initiatives to improve their overall experience while studying abroad, which can contribute to higher retention rates and increased word-of-mouth referrals.

Future Prospects and Economic Impact

The increase in international students has far-reaching implications for New Zealand’s economy. Beyond direct financial contributions, these students enrich the cultural landscape and foster international connections. Malu’s vision aligns with a growing recognition of the role that international education plays in building a more diverse and interconnected society.

With the targeted increase to $7.2 billion by 2034, the focus will be on strategic partnerships, marketing, and enhancing educational offerings to attract more international students. The potential benefits extend beyond the education sector, impacting local businesses and communities that support these students during their stay.

In conclusion, as Education New Zealand embarks on this ambitious goal, the positive trajectory of international student enrolments signifies a promising outlook for the sector. The emphasis on growth, support, and quality education will be crucial in navigating the challenges and opportunities that lie ahead.