Highlights
Abstract
This study represents the most significant topic of International Students and the significance of their presence. The impact of international students on the economy is a debatable assertion, yet superb education chisels an individual with bright hues. This paper focuses on the Australian perspective and the impact of international students on the Australian economy. The relevance of international education and the Australian government's unwavering success in developing the educational system is at the heart of this paper. It defines the sections of the economy that are impacted by international students and the future of Australia in terms of academic tenure. International Students' multicultural competency development will also aid in seeing the relationship between various economic sectors. The primary and secondary data have been compiled to provide a comprehensive picture of the facts in a worldwide context.
Introduction
Study abroad is the single most effective way of changing how we view the world” (Mitchell, 2019). This world has become a global village with students shifting to different countries for better education and standard of living opportunities. This migration has redounded in creating diverse global relationships, making it one flat world. International students have become an ace weapon in building up of country’s economy. They bring in unified knowledge, skills, fresh talent and cultural perspective, which directly contributes to the nation’s economic growth and development. According to (OECD, 2019), there will be a rise of international students to 8 million by the year 2025; this reflects the importance of international students who enhance the economy of a country and its social-cultural impact. In recent years, Australia is one such country that has changed the outlook of education with more than a 10 percent increase of international students on board, and the data is increasing (OECD, 2019).
Technology advances and an explicit shift in the education system have highlighted Australia as one of the greatest places for higher education, as well as the attractiveness of the social and cultural atmosphere functioning as an attraction worldwide (Freeman & Barker, 2017). It's not only about tuition fees or living expenditures when it comes to a holistic picture of the economy and society. There is still a positive impact on scientific and technological research, as well as on society as a whole because of the movement of students, which helps to the development of more liberal and tolerant cultures. Australians have been confronted with these issues in recent years, as the country's educational sector has grown and the number of overseas students it accepts has reached an all-time high. That's why this study will focus on the role of international students in Australia's economic growth and the development of multicultural competence, and how this transformation in the education system affects economic development (Curtis et al., 2021).
Secondary data study will be used to discover the most recent trends in international student mobility and how they impact key growth and development sectors. For the sake of their own investigation, researchers often turn to secondary sources such as other studies or interviews for their data. Researchers employ secondary data analysis if they want to investigate a fresh question or a different perspective on an old one. Developing multicultural competence will also be defined by the importance of international students evaluating the social and cultural impact of various studies from various sources and analysing the research that has already been done by different scholars and comparing the current situation with the findings.
Research Question
1. How do international students in business interact with the multicultural learning environment?
2. How does the educational environment affect the development of cultural knowledge among students?
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