Apart from spate of attacks on Indian students in Australia since last year, another factor which has become a deterrent for the students is a stronger Australia dollar. Even though strengthening of the Australian dollar is welcome for Indians who live there permanently, for students coming from India it has become very expensive. Two years ago, one Australian dollar fetched Rs.30 and yesterday it was around Rs.44. The average fee for a two-year study in Australia currently stands at Aus$36,000 and just look at the difference in the past two years that the Indian student has to bear.
The latest figures point out that the education industry in Australia fetches the country close to Aus$18 billion annually and this industry is either the second or the third biggest earner.
With the Australian dollar strengthening like never before, the cost of education today in the US, the UK or Canada is the same as in Australia and with the denial of permanent residency, the education industry in Australia could suffer heavily.
According to FISA, the one visible thing these days is the number of Indians arriving to South Australia has come down significantly and it is true many have left and some are getting ready to leave from Australia.
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