International education trade opportunities have been included as an ‘additional focus sector’ in the NSW Trade and Investment Strategy 2035, released over the weekend by the NSW Government.
The main opportunity for international education outlined in the Strategy is for transnational education, including joint programs, offshore campuses and digital delivery, as well as a call to embrace innovative models that build sustainable capacity overseas.
An opportunity to position NSW as a world-class EdTech hub is also included, as it currently generates nearly $3bn in revenue for NSW each year.
Although the Strategy is light on detail, it acknowledges that a NSW International Education Action Plan is being developed “in consultation with the international education sector to foster a competitive and sustainable sector that delivers quality student experiences and greater social and economic prosperity for the people of NSW”.
NSW is the most popular study destination in Australia, with a 39 per cent market share and earnings of $19bn in 2023-24FY.
There are three Industry Policy Sectors identified in the Strategy:
- Housing
- Net zero & energy transition
- Local manufacturing
In addition to international education, the additional focus sectors are:
- Agrifood investment and trade opportunities
- Defence and aerospace investment and trade opportunities
- Digital technologies investment and trade opportunities
- Life sciences and healthcare trade and investment opportunities
- Mining equipment, technology and services trade opportunities
The Strategy has been released in advance of a trade mission to the Republic of Korea and Japan, led by NSW Minister for Industry and Trade, Anoulack Chanthivong.
A copy of the Strategy is available here.
