How much did Victoria's universities earn in revenue from international students during the peak of the pandemic?
The Education State was in a state.
Analysis
Universities in Victoria earned a collective total of $2,825,279,000 in revenue from fee paying international students in 2021 at the height of the pandemic.
This was a 12% reduction from the previous year ($3,211,943,000 in 2020).
Monash University earned the highest revenue in the state with $917,527,000.
Federation University Australia had the lowest revenue of $63,440,000, which was -49.3% change from 2020.
Federation University Australia had tremendous growth in this market in 2018 and 2019.
However, its long term annual growth rate (-1.0% CAGR from 2008 to 2021) signals a concerning trend for the university as it falls behind not only its competitors but also the overall market.
Both Monash and the State’s 2nd top performer UniMelb are among the super winner group of Australian universities that has managed to not only grow international student revenue over the long term, but also grow their relative market share.
Their continued significant revenues during lockdowns and border closures indicate the strength of their positions in the market.
Notes
Revenue data is sourced from Department of Education
CAGR and market share figures are calculated from nominal revenue data quoted in Australian dollars