International student revenue slumps in New Zealand
Christchurch's tertiary education has been hit by a 37 per cent decrease in international students as a result of ongoing earthquakes.
The city is usually New Zealand's second-largest hub for international education, meaning that the drop is likely to cost the sector over $10 million in lost revenue in 2011 alone, reports stuff.co.nz.
Steven Joyce, the Tertiary Education Minister, said the results were not shocking given the outcome of the quakes. Kay Giles, the Christchurch Polytechnic Institute of Technology boss, said the polytechnic is expecting a $2.6m drop in revenue this year. Canterbury University is predicting an $8m decrease every year.
Giles said the number of full-time international students dropped last year after the February 22 earthquake. Last year, a record 760 international students were enrolled. This year Giles hopes to have 530. She said they are being credible about the level of attraction of Christchurch, but thinks they are on target to gain the 530.
Canterbury University's international enrolments dropped from 1,267 in 2010 and 937 last year, to just 753 this year. The university hopes to gain 879 by December. International undergraduates pay tuition payments of $22,000-$35,000 every year, depending on the subject. Meanwhile, Lincoln University's enrolments dropped from 565 in 2010 to 479 this year.
The NZD exchange rates on 30/03/2012 were as follows: GBP NZD = 1.9558, EUR NZD = 1.6304, USD NZD = 1.2218, AUD NZD = 1.2639, CHF NZD = 1.3536, INR NZD = 0.024, AED NZD = 0.3329, MXN NZD = 0.0954, CAD NZD = 1.2235, ZAR NZD = 0.1593, RUB NZD = 0.0416, . See today's New Zealand Dollar Exchange Rate
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