Posted to The Age (15/4/2012) on 18/4/2012 at 2:45 PM
Commenting on "Feeling weak"
http://watoday.domain.com.au/real-estate-news/feeling-weak-20120414-1x0g2.html
@Andrew Smith, you're quite correct to point out about international students market. In fact, I've written many articles about this AUD18.8 billion industry (when at its peak), second largest "export income" after the mining industry.
When the government policies brought in so abruptly, billions of dollars were wiped out, even if a third to quarter is gone, that will equate to AUD6.1b to AUD4.7b, good enough to achieve budget surplus without hurting the taxpaying public.
Will the students swamp the colleges again? I doubt so. UK, USA and Canada have been attracting the students with more favourable Visa and after-graduation-stay conditions than Australia.
Many private colleges and TAFE could not survive such disastrous downturn, and became history. Dragged down by this collapse are many teaching staff, mainly sessional teachers, who are the baby boomers. Reduced income implies reduced investment in property or stock market.
Australia is not an isolated island in the global market. Our success attracted many vultures who wanted a slice of the action. Our government should learn a lesson not to introduce policies on the run!
Commenting on "Feeling weak"
http://watoday.domain.com.au/real-estate-news/feeling-weak-20120414-1x0g2.html
@Andrew Smith, you're quite correct to point out about international students market. In fact, I've written many articles about this AUD18.8 billion industry (when at its peak), second largest "export income" after the mining industry.
When the government policies brought in so abruptly, billions of dollars were wiped out, even if a third to quarter is gone, that will equate to AUD6.1b to AUD4.7b, good enough to achieve budget surplus without hurting the taxpaying public.
Will the students swamp the colleges again? I doubt so. UK, USA and Canada have been attracting the students with more favourable Visa and after-graduation-stay conditions than Australia.
Many private colleges and TAFE could not survive such disastrous downturn, and became history. Dragged down by this collapse are many teaching staff, mainly sessional teachers, who are the baby boomers. Reduced income implies reduced investment in property or stock market.
Australia is not an isolated island in the global market. Our success attracted many vultures who wanted a slice of the action. Our government should learn a lesson not to introduce policies on the run!
