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SMALL IS BEST LESSONS FROM ADVANCED ECONOMIES RYAN BOURNE AND THOMAS OECHSLE

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When set against the Baseline, the decrease in total expenditure is even more pronounced. Further, this is in many ways the true indication of the impact on the overall Australian economy of a decline in onshore international student numbers, relative to expectations, until quite recently, of a steady growth of 3% per annum from 2010. In the instance of the Perfect Storm scenario, total expenditure in 2012 is around 24% below where it would have been under the Baseline. By 2015, expenditure in the Perfect Storm scenario is $8.9 billion, around 40% below the Baseline forecast of $14.9 billion. .

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