Canadian institutions devastated by the loss of international students
According to a recent report by The Globe and Mail, almost every university in Canada is facing serious fiscal deficits. The main reason for the fiscal deficit is due to the decline in the number of international students and closed campuses that have weakened school profits. Coupled with the slow speed of vaccination in Canada, this brings even more severe financial challenges to the next academic year. According to a survey by Statistics Canada, in recent years, almost all public universities in Canada have increasingly relied on overseas students to increase their economic profits. In 2017/18, international students brought nearly $4 billion in annual income to Canadian universities. They pay an average of five times the tuition fees of domestic students, accounting for nearly 40% of all tuition fees. Among the top three universities in Canada, international students account for at least a quarter of the number of students. According to a survey report by Universities Canada, the enrollment rate of international students has increased by about 45% in the past five years. However, due to the restrictions of the pandemic, this year’s international enrollment rate has dropped by 2.1%.