According to the national accounts, the economy grew just 0.3 per cent in the September quarter and 0.8 per cent annually 鈥 the weakest non-pandemic reading since the 1990s recession.
The ABS reported that education exports fell nine per cent in the September quarter compared to last year, dropping from $13.6 billion to $12.4 billion.
鈥淥ur economy is stuck in low gear and the handbrake on international education is a big reason for that,鈥 黑料老司机 Chief Executive Officer Luke Sheehy said.
鈥淚nternational students drove half of Australia鈥檚 economic growth last year.
鈥淚t makes no sense to put a handbrake on a $50 billion industry that fuels our economy, especially when other sectors are struggling.
鈥淭he Government has been using Ministerial Direction 107 to reduce international student numbers since last December and now we are seeing the damaging effects in the data 鈥 our outer suburban and regional unis are being hit the hardest.
鈥淓very dollar universities earn from international students goes straight back into Australian education and research.
鈥淎t a time of growing budget pressures, we should be investing in our most successful sectors, not curtailing them. It鈥檚 the key to building a stronger, more prosperous future for all Australians.”
