Australia’s visa investment investment in education is expected to increase in 2018, the Government announced today.
Australia is also investing in higher education in new ways, including through a new O1 visa investment programme and the launch of a new Diversity Visa Investor Centre.
“Australia is one of the most diverse countries in the world and the future of our country’s economy will be determined by our ability to attract the brightest and best people,” Education Minister Christopher Pyne said.
“This new investment in Australia’s universities is part of our broader investment strategy to attract, retain and attract talent.
We are building on the work we’ve already done with the World Bank, the UN and the University of Queensland, and we want to do more.”
Pyne also said the Government is investing $3 billion in new infrastructure, including $1.5 billion to upgrade the Canberra campus of the University and $1 billion to expand the CBD’s library and student accommodation.
He said the investments in education are part of a broader strategy to create a more diverse and inclusive workforce and to attract and retain the brightest people from all backgrounds.
The Minister said the new visa investment program will see students invest in their first-year study at a single Australian university, or at a third party institution that is approved for investment.
“The Government has invested $4 billion in our existing international students programs, with an additional $2 billion set aside to support the first- and second-year studies of Australian citizens studying overseas,” Pyne added.
“This investment will increase Australia’s total investment in international student programs by $1 million per year, and it will help us to increase the number of international students we can support, both at the national and international levels.”
The Government said the funding will allow the Government to build more infrastructure to support its international students program, including new buildings, new pathways and training spaces, and the establishment of new partnerships and educational facilities.
Pyne said the investment will be a critical component of Australia’s future growth as an investor in higher learning, with the Government committing to funding about $5 billion of infrastructure projects through 2020.
“There is no doubt Australia will be one of Europe’s fastest growing economies in the next five to 10 years and this investment is a vital part of that effort,” Py, who is also the Minister for Innovation, Science and Research, said.
The Government’s new funding comes as the Government has announced the opening of a major new international education hub in Canberra.
It will provide students, faculty and staff access to an international centre of excellence and will attract around 300 international students annually.
The new centre will be open for two years, during which time it will provide an international education experience for international students and staff, which will include courses on teaching, learning, business and citizenship.
It is expected the centre will have an annual revenue of $3 million and be operational by 2025.