Education market overview
For many years, China has been Australia’s top international education source market, with over 130,000 Chinese students studying in Australia in 2023. Of these studying, around 45% choose NSW as their home.
With the border reopening in early 2023, China has seen a mild economic recovery. Economic growth is expected to rebound to 5.4% in 2023 and 5.1% in 2024 as projected by OECD. China’s longer term economy development is predicted to be slowed down by many analysists, which can delay its pace to be the world largest economy by 2035.
China also has seen a recovering demand on international education in both study-aboard market and transnational education delivery in market. There is a common view China’s demand on overseas demand will continue to increase despite a slower growth. It is anticipated that the total number of Chinese going abroad for study would reach 600,000 in 2023.
The graduate employment market in China is getting tougher. In April 2023, the unemployment rate of young people aged 16 to 24 in China reached 20.4%, the first time since 2018. Employability has been the top concern of Chinese families, making postgraduate studies abroad a key driving force of China’s study-abroad market.
The anxiety of China’s middle class to ensure the best education for their children has underpinned the recovery of overseas school education across the world.
China’s vocational education sector is still shaping up to its modernisation with strong support of the Chinese governments’ policies and funding. International collaboration is strongly welcomed for transnational education delivery, teacher and leadership training.
Sydney maintains a strong brand reputation in China, one associated with offering a high-quality student experience that is safe and welcoming. It is important for Study NSW to build up a positive image of NSW international education in this market and diversify the Chinese student flow to other regions besides Sydney.