The international tourism consumption of education services in Australia has shown a significant upward trend from 2013 to 2023, starting at 3.69 billion AUD and reaching 9.22 billion AUD. Despite a sharp drop in 2020 due to the global pandemic, the sector rebounded strongly in subsequent years. The year-on-year variation was 3.98% in 2023, and the Compound Annual Growth Rate (CAGR) over the last five years was 4.47%. The forecast indicates continued growth, with values expected to reach 11.01 billion AUD by 2028, suggesting a forecasted 5-year CAGR of 2.9%.
Future trends to watch for:
- Continued recovery and growth post-pandemic, driven by increasing international student mobility.
- Potential impact of geopolitical trends and immigration policies on international student flows.
- Increasing competition from other countries offering education services.
- Technological advancements in online education and their possible effects on physical tourism for education.