Why Study MBA in Australia
13 September 2021
24 February 2023
We have some good news if you are an international student in Australia. In recent events, Albanese Government has extended the post-study work rights of international students. This has been done to help drive economic growth and address the skill shortages; particularly, the extension for the PhD students can significantly boost Australia’s knowledge economy. The Australian universities are also strongly supporting the decision.
Catriona Jackson, Chief Executive of Universities Australia, addressed the skill shortage in a statement. She said, “Australia needs more skilled workers to ease the current pressures weighing on our labour market and the economy.”
It is noted that hundreds of thousands of international students study in Australia every year. Yet, only 16% of them stay in the country. One major aspect of it can be the rising living costs in Australia. Universities are reportedly seen saying they educate the students so that they can utilise their education and skills to boost the Australian economy in various cities. However, most students moving out of the country as soon as their education gets completed is becoming a problem.
Australia is now struggling with needing more skilled professionals in major fields. The country is experiencing healthcare skill shortages. Skilled personnel from this field have been in high demand for many years, but when COVID-19 hit, the sector bumped to unprecedented levels. Healthcare professionals have been the ones who have been most affected by COVID-19. This led to skill shortages in pharma and other sectors like IT, education, etc. “Hundreds of thousands of international students come to our world-class universities yearly, yet very few remain here – just 16 per cent. We are worse off for that, economically and socially,” the Chief Executive added.
To help with this issue, the government has turned to international students. Before COVID-19 hit the world, international students contributed to the nation and generated $40.3 billion in economic activity. The Australian government has now made international students eligible for the additional work privileges offered at the September Jobs and Skills Summit if they possess credentials in more than 120 occupations. International graduates on temporary graduate visas (subclass 485) who have just graduated with skills and qualifications relevant to particular occupations in Australia will be eligible for work rights extensions.
The Chief Executive congratulated the Albanese Government for its solution-driven approach and strong leadership to meet the workforce needs.
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