A report has shown that the Australian Universities confronted a loss of 17,300 jobs and $1.8 billion in 2020. However, it is also expected that more losses are on the way in 2020. Catriona Jackson, the chief executive of Universities Australia said that the operating revenue of the Australian Universities fell over 4.9% in 2020 as compared to the figures of 2019 revenue. However, it is expected that the sector may face a further loss of 5.5% or $ 2 billion in 2021. Chief said that they have always proclaimed that the universities are going to face a multi-year hit to their revenue. If a student from outside Australia had not enrolled in 2020 for study in Australia, the loss will not be limited until 2020, but it would be felt for the entire session of 3 to 4 years. If the closure of the borders will continue then the number of international students will also be reduced to a large number.
How the Education Sector Is Affected?
Well, Jackson also came with some resolutions and solutions taken to limit the loss and to manage the revenue of the Australian Universities or education sector. She said that the universities have tried their best to limit the job losses by adopting several ways. For example, the universities halted the infrastructure projects, took tough decisions regarding courses, and made potential savings wherever they could. But, instead of this, the effect of the Covid-19 on the sector of education in Australia has come at a real cost.
Research funding is another main concern of the universities. The fees from the international students’ side cover the quarter funding of the university research. Melbourne University analysis has shown that the drop of the international student’s revenue may lead to a loss of $6.4 to 7.6 billion in research funding over the next five years. At the end of 2020, the federal government offered additional funding of $1 billion for research. Jackson said that it is an important acknowledgment that R&D has created the jobs of the future and for the national recovery that universities are considered as the central figures.
However, in light of the ongoing border closures, there are calls for the second financial rescuer package because it is a warning that if the universities will not be able to afford the suitable staff and equipment then Australia will lose its best researchers.
How To Recover the Education Sector
A meeting between the state and the federal leaders is going to be held on the coming Friday, February 5th, 2021. During this meeting, the Covid-19 situation will be discussed. The returning of the international students and the vaccine rollout will be the main agendas of this meeting.
Get Consultancy To Study In Australia
Students who are still in the favor of Australia to start their higher education in Australia are informed that the government of Australia is working hard to recover the education sector of Australia and it is expected that the applications for Study in Australia will be resumed shortly. Students who want to check their eligibility to study in Australia and are looking for the application process they are invited to get the complete consultancy today from the experts to start their applications.