International students may be the bedrock of our economy

Analysis by economists at NAB suggest spending by international students, contributed to more than half of the nation's 1.5 per cent GDP growth last year. The 0.8 per cent boost helped Australia's economy avoid two consecutive quarters of negative economic growth - steering it away from a technical recession. But with student visa approvals falling, that contribution is expected to ease.

"The return of international students should be welcomed, they help Australia thrive. They do the job that a lot of young Australians won't do, in terms of part time employment with a study full time. And crucially, they buy new bedding when they arrive here. They contribute to restaurants and appearance come as international tourists, and really help the economy through tourism as well.

"As that population surge starts to slow down, a lot of which we think will will happen, you know, somewhat naturally, as the population has caught up to where it otherwise would have been. That should start to take a little bit of the pressure out of the rental market. "The visa intake is being tightened by the government - as part of its overhaul of the migration program.Just over 90,000 were granted in the last quarter.

Source: Financial Digest (financialdigest.net)

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