NEW South Wales and Australian Capital Territory will work together to return international students to campuses, as COVID-19 hits the tertiary sector.
The loss of international students due to border lockdowns was anticipated to reach $16 billions by 2023 for Australian universities alone, not to mention the impact on CBD economies and the residential unit market, especially in Sydney and Melbourne.
The ACCC has approved an interim authorisation for universities from the state and territory to collaborate on travel arrangements for international students re-entering the country.
“This interim authorisation will allow universities in NSW and the ACT to start working together immediately to implement a fair and efficient system to get these international students back to Australia,” said Rod Sims, ACCC chair.
Students with practical or on-site components in their studies will be prioritised, with the pilot plan enabling 250 international students to come to Sydney per fortnight.
“Nothing in the ACCC’s decision impacts the Federal and State Government rules in relation to quarantine, capacity limits or funding,” said Sims.
The authorisation will allow universities to allocate spots under the NSW government cap, based on 2019 enrolments.
“The interim authorisation simply provides an exemption from competition law for the universities to collaborate to facilitate implementation of the NSW Government’s policy to allow international students to return. This will assist the universities to implement the pilot plan more efficiently and cost effectively,” added Sims.
While students will be in charge of booking and paying for their travel, a single travel agent will be appointed to source and organise flights.
“Using the same travel provider will make the process simpler and easier for the universities, students and government agencies that handle international arrivals and quarantine arrangements,” said Sims.
In Melbourne, where the COVID-19 situation remains touch and go, RMIT last July looked to offload $120 million in capital by entering its 235 Bourke Street tower to the market.
Swinburne University followed suit, offloading its 226 Flinders Lane building, after only acquiring the proposed vertical campus the year prior for $44 million.
However at the close of 2020, the student accommodation sector did manage to bring in more than $3 billion in transaction volumes, with the sector looking to double over the next five year, even with the hit from the pandemic.
