Education exports, ie foreign students, is another sector that has been under pressure from the high $AUD. International education is booming in the USA. However, as King continues to point out the currency is not the only factor with the sector also hit by deliberate Federal Guvmint policy on student visas:
A major reason for the drop in Australian education exports is the federal government’s visa policies. The government changed these rules to prevent exploitation of immigration rules – which of course are also set by the federal government. So to solve one problem (that it created) the federal government has so restricted student visas that it is undermining a major Australian non-mining export industry. The irony of course is that a major beneficiary of education exports is the Australian government who owns/funds almost all our Universities.
King also links to this initiative in NZ to attract foreign students.