The report highlights the role that international students play in supporting the Victorian economy and argues that the government's proposed caps on international student enrolments will damage the economy, deprive the university sector of revenue and potentially undermine life-saving medical research. 

Key findings on economic impact

• Victoria's public universities contribute $27.4 billion in total economic impact
• International education accounted for 48% of Victoria's services exports and 19% of total exports in FY 2022/23
• There are 399,000 students enrolled at Victorian public universities (including 130,000 international students) and more than 36,000 academic and non-academic staff directly employed by these institutions. Students and staff at these universities indirectly support 89,000 jobs
• Students and staff at these universities generate around $15.4 billion in spending on food, clothing and entertainment
• Australia is reliant on public universities for R&D investment - in Victoria the contribution of over $3.6 billion is more than twice the State's second largest sector
• Victorian public universities R&D investment represents almost a third (32%) of Victoria’s R&D efforts
• A 2018 report estimated that for every $1 spent on research at the Go8 Universities, approximately $10 in benefits was realised by the private sector.

Key findings on the impact of international students

• International education generates $10.0 billion in economic value and is Victoria’s largest export
• For every international student, an additional $66,000 of economic benefit is generated
• For every $1 million spent by visitors, three full-time jobs are created. In 2023, visitor spending was $1 billion, directly impacting over 3,000 jobs in hospitality, retail and tourism sectors
• International students comprise 38% of enrolments at Victorian public universities
• One-third of international students in Australia choose to study in Victoria
• Restricting Victorian international student enrolments by 30,000 students per annum would reduce the contribution to the Victorian economy by more than $5.9 billion over three years and cost at least 12,000 jobs