Economic Impact Of Melbourne Polytechnic Students On Victorian Economy

Background research

Title: Economic Impact Of Melbourne Polytechnic Students On Victorian Economy

Australia is proved to be one of the best for providing educational facilities among overseas students, most of the students use the “study work visa” in order to get jobs and work in companies’ fulltime or even part-time in the countries local market along with the studies (Morris, 2016).Education is growing overseas, which is helping the overseas economy to increase. By marketing education up to in many international sector the Australia attribute shows the engagement of students in temporary work engagement by using work visa (Chew, 019). There is a growth of about 22% increase in the AU$31billion contribution by the international student (Huang 2016).

According to Norton, in 2016, Australia is positioned as the fifth largest country in the world to attract 19% of global international students, with around 375,000 students enrolled. There are some specific universities that undertook the framework which focuses on meeting the increasing demand for the employment market by providing opportunity to the student to work while they study by which it can help to grow the economic revenue.(Levent, 2016).The main reason Australia is proved to be one of the leading in the international education sector is due to is secure alumni networks, which helps the students to build a good relationship with the alumni and Victoria and even maintain the connections for developing their global research. International students generate significant export income of about $34billion every year for Australia, which supports more than 240,000 jobs across the country. Most of the students contribute by working in companies as a part-time employee or even a full-time employee by using their post-study work visa(Gopal, 2016). The amount they are paid they deposit half of the amount in the Australian bank or by investing in the income generation source in Australia. However, not all the jobs are for academics or university administrators most of the all the posts that student used to do include chefs, waiters, drivers, assistants in shops, and many more.

Moreover, the financial return is not just restricted to the interval that overseas while students study in Australia. But also the economic impact is boost due tothe student families and friends who are visiting them as a tourist to the country, which helps to boost the economy in terms of tourism revenue.The increase of the economic benefit with the help of education sector is called as the “Soft diplomacy.” Enormous literature implies the investigation in the economic impact by the immigration by the students is mostly on the wages and employment sector in the receiving country (Brell, 2019).

Research statement

This research project is a case study designed to examine the economic contribution of international students of Melbourne Polytechnic to the Victorian economy.

To survey 70 international students about their economic contribution to the Victorian economy.

The main objectives that are considered in this research are:

• To investigate the types of jobs that international students mainly apply or used to do while studying.
• To analyze the student’s main expenses within the country
• To analyze the spending capacity of international student
• To identify the types of courses, they are currently enrolled for
• To analyze the indirect economic contribution to the economy by international students dependents.

The selection of the research methods depends on the criteria and requirements of the research (Zhu, Yu, and Riezebos, 2016). As thus, research aims to examine, explore, and analyses the influence of abroad students on the Victoria economy; the mixed research method has been used for the collection of both quantitative and qualitative data. Quantitative data has been collected through the surveys, by developing the closed ended questions.  The respondents are given with the most relevant options for the closed ended questions, after collecting the data, the data has been entered to an excel sheet for the specific format data organization. To encapsulate the data, frequencies and percentages have been calculated. The tables, pie charts, histograms have used to represent the quantitative data for the ease of data analysis. The qualitative data does not need statistics or numerical value, the data has been collected through the open ended questions. The respondents were not given with any option for the research question, they were asked to answer the questions in descriptive manner. However, a word limit has been bounded to avoid the complexity of the lengthen answers. 

The primary data has been collected through surveys and interviews. The secondary data has already been collected from the literature reviews. However, for this research, both the quantitative and qualitative data has been collected as primary data.

From the surveys, quantitative data has been collected.  Quantitative data involves numeric or statistics that are easy to measure, interpret, and analyze and address the research questions. To collect the primary quantitative data, the closed ended questions have been framed related to the research area. For each question, the most relevant options were given as answer. The questions and options were sent to each of the respondents through email. The qualitative data has been collected from interviews. The open ended questions were framed associated to the research topic. Face to face interview was conducted and the responses of the interviewees were recorded in a recorder.

Samples are required to be selected to proceed with the interview and surveys (Etikan, Musa, and Alkassim, 2016). To avail the data only from the abroad students, the non-probability sampling method was selected where only the abroad students of polytechnic colleges of the Victorian region got the chance to respond to the survey questions. The sample size was set as 70 to collect adequate quantitative data. They were invited as the respondents of the survey. Moreover, six international students were asked for the interview process.

Aim

The data analysis was conducted in two phases, in the first phase, only the quantitative data gathered from the survey was analyzed, while in the second phase, the qualitative data were analyzed. At first, data was entered in the excel sheet, the measurement scales have been made and the descriptive statistics like the frequency and percentages were lonked with the data to encapsulate the data. after that, the data were represented through the tables and charts, and then analyzed and linked with the concepts. The Qualitative data was first noted down and then organized. The data was studied for several times for in-depth understanding. The critical parts were studied and highlighted and linked with the research themes. 

The entire study deduced the economic contribution of the international students in the context of Melbourne Polytechnic (Cook and Wilkinson, 2019). The extensive economic contribution of Melbourne polytechnic demonstrated the economic condition of Australia. In order to evaluate the specific economic contribution of the international students, the interview and the survey had been conducted. It was observed the economic contribution of the international students lead to integrate the value of the Australian economy (Kazimi, Sadruddin, and Khowaja, 2016).   The findings had been done based on the survey and interviewing process of the international students learned in Melbourne Polytechnic.  Eventually, the construction of the survey and interviews had been identified as the predominant tool to determine the economic contribution of international students.  There are 70 students who have attended the survey. The conduction of the survey elaborated on the four major factors. Those factors included the money-saving process, course fee-paying process, monthly income, and tax payment (Maliket al. 2015). It was observed, 51% of the international students save their money in the Australian bank. The students who earn and save money in the Australian bank employed in Australia. This had the extensive role to intensify the competitive strength and economical factors of Australia. Another, 34% of the international students sends their money to their home country. Remaining 15% of the international students invested their money on the income-generating source in Australia.  It identified, the international students employed in the Moreover, it also ad has been observed 35% of the international students pay the course fee by themselves. Another 31% of the international students pay the course fee half by their parents and half of the fee by themselves. Remaining 32% of the student’s parents pay the entire course fee.

Objectives

The interview also had been conducted among the six international students of Melbourne Polytechnic. It had been observed, four interviewers among six international students lived with partners. It also had been seemed the partners who lived with the students also earn. Five interviewers among the six interviewers’ parents visit them.  The students who earned along with their paryners revealed to generate the economical value of Australia.

The conduction of the survey also helps to investigate the monthly income of the students. It had been observed,16 students earn $1000, 24 students earned $1000-2000, 27 students earns $2000-3000, 3 students earns $3000-4000. The survey also helps to collect information about the tax payment amount of international students. It had been observed, 18.5% of the international students pay $1000-$1500, 4.2% of the international students pay $1500-$2000, 41.4% of the international student pay $500-$1000, 35.7% of the international students pay $0-$500It had been evaluated from the money-saving process of the students that 51% of the s international students save their accountability an Australian bank.  It leads to generating the Australian economy like the Australian bank utilizes the responsibility of the students. Moreover, it also helps the Australian bank to invest the money in the various income-generating sources. It also had been evaluated 15% of the international students invested their earning on several income-generating sources such as organization of Australia. Hence it also leads to the influence of the Australian economy (Apergis, Baruník, and Lau, 2017).Moreover, 34% of international students send their accountability to the home country. The Australian banking sector also perpetuates their economic factors by taking the transaction charge (Ali, Shahnia, Arefi, IU, and Fernando, 2017).

The course fee-paying process and the taxpaying process also had been investigated. It had been observed, 35% of the international students earn the course fee by themselves, 31% of the international students pay the course fee half by themselves, and their parents pay half of the course fee.  It had been observed the investigation revealed the extensive evolution of the international students in Melbourne Campus leads to strengthening the economical condition of Australia. The involvement of the course fee in the educational centre named Melbourne campus leads to demonstrate the economic value of Australia (Denehyet al. 2016). It also had been investigated parents of 32% of the international students pay the entire course fee. Hence it leads to enhance the economic value of Australia.

Moreover, taxation also plays a pivotal role in generating economic intervention in Australia. The fair tax payment process of the international students ensured an effective, economic contribution towards Australia (Jones, 2018). The international students of Melbourne Polytechnic also had a predominant monthly income seemed to generate the economic value of Australia. Moreover it also had been identified, 44% of the international students employed as part-timer employee, 38% employed as casual, and 12.9% employed as permanent staff and rest 4.3% seemed to be self-employed. The mesmerized employment status indicated for an economic contribution towards the Australian economy (Ertugrul, Bell, Haines, and Fang, 2016). It revealed to perpetuate organizational productivity, and hence, it lead to enhance the Australian economy.  

Research methodology

Hence it had been evaluated the four interviewers who lived with their partners influence the Australian economy as their partners also seemed to be earned. Rest 5 from the six interviewers who lived in Australia also had integrated the value of the Australian economy as they also seemed to be earned. The earning of the international students of Melbourne polytechnic had an immersive role in influencing the economic standard of Australia. The students who seemed to be live with their earning partner lead to enhance the Australian economy effectively. Furthermore, the trenching economical standard enhances the competitive capability of Australia.   Hence it eases the research investigation by procuring the specifically numeric data. Hence the conduction of the interview also helps to generate the research investigation value by integrating the qualitative data.  It had been determined by conducting the interview that, the maximum students had generated the economic condition of Australia by influencing the earning process.  The interview had indicated the effective, economic intervention of international students. It had been seemed the inauguration of the economic contribution of the international students of Melbourne Polytechnic enhanced the productivity of Australia. Thus it reveals to perpetuate the competitive capability of Australia.  

Conclusion

The study deduced the economic contribution of Melbourne Polytechnic international students. The study also explained the research methodology section. The research methodology interpreted the data collection process. It had seemed the primary source mainly had been utilized to gather the specific data regarding the economic contribution of international students. In order to enhance the research value, the survey and interview had been conducted. The conduction of the survey leads to demonstrate the knowledge regarding the economic contribution by integrating the quantitative data. The perspiration of quantitative data reveals the numeric or statistics.

The international students do full time work during their vacations, However most of the students are not aware of the fact that they are eligible to do full time during their vacations and semester breaks. It is responsibility of the university to inform the students about the full time working. So that the students earning can help to increase the economic growth.

As the second recommendation. In order to increase the awareness which is becoming more inclusive and less elitist, and also by focusing on the mobility, moreover also must be focused on the learning outcomes (Perez-Encinas 2018). New type of bank account should be given to the students with more benefits such as special interest rates. By doing this 34% of the transfers can be saved with in the country.

References

Chew, J., 2019. Economic opportunities and outcomes of post-study work rights in Australia.

Huang, L., 2016. Internationalization of higher education in China and Australia. In Multidisciplinary Research Perspectives in Education (pp. 105-114). SensePublishers, Rotterdam.

Perez-Encinas, A. and Rodriguez-Pomeda, J., 2018. International students’ perceptions of their needs when going abroad: Services on demand. Journal of Studies in International Education, 22(1), pp.20-36.

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