top of page
Writer's pictureDr Sp Mishra

Geopolitics Vs Economics: Which one will prevail?

Geopolitics Vs Economics
AI Generated

Geopolitics and economics have historically conflicted. Throughout human history, we've witnessed cycles of remarkable business growth followed by periods of stagnation due to geopolitical events. Until World War II, geopolitics manifested in wars and colonization, among other forms. However, after the world wars, geopolitics has largely been expressed through strategic policy sanctions and trade restrictions. It's worth noting that regional conflicts have persisted post-World War II, but a significant portion of the world has recognized that wars do not lead to better outcomes. Consequently, economics often prevails because it offers more sensible solutions than politics.


To understand this conflict, let's look at the Abroad Studies business performance in 2024.


Since mid-2023, several countries, including the UK, Australia, and Canada, are implementing stricter immigration policies, which are impacting the flow of international students. This change comes as concerns over migration and its effects on local services continue to rise. The shift is driven by a prevailing belief that immigration, especially from students, worsens economic difficulties and strains resources in host nations. While international student enrollment surged after the pandemic, the concurrent escalation in housing and service access issues has incited a political pushback against new immigration. The ongoing global migration crisis is characterized by unprecedented numbers of individuals escaping adverse conditions in their homelands, with 281 million international migrants documented in 2020. Although they represent a minor segment of the overall migrant populace, international students are politically impactful and subject to the same stringent measures that influence other immigration categories. Pressure on local resources, rising living costs, and public sentiment demanding reduced immigration have prompted governments to reconsider welcoming international students. The international education sector needs to rebuild its reputation by enhancing student experiences and outcomes, collaborating with industries, and effectively communicating its benefits to the public and policymakers.


Similar trends have been observed regarding immigration policies and public sentiment towards international students and migrants in the past as well. Some notable instances include:


Post-Global Financial Crisis (2008): Following the financial crisis, many countries, including the UK and Australia, tightened immigration policies due to economic pressures and rising unemployment. This led to increased scrutiny of immigration levels and a shift in public opinion against high levels of immigration.


Brexit (2016): The United Kingdom's decision to leave the European Union was significantly influenced by concerns over immigration. The campaign highlighted issues related to the perceived strain on public services and housing, leading to a tightening of immigration policies post-Brexit.


COVID-19 Pandemic (2020): During the pandemic, many countries closed their borders and restricted immigration, which had a significant impact on international student mobility. As borders reopened, there was initially a push to attract international students back, but this was soon followed by renewed scrutiny and restrictive policies as public concerns about housing and healthcare access grew.


Rising Nationalism and Populism: In various countries, the rise of nationalist and populist movements has led to more restrictive immigration policies. These movements often capitalize on public concerns about immigration's impact on local resources, leading to a backlash against high immigration levels.


Economic Downturns: Historically, during periods of economic downturn, there has often been a corresponding tightening of immigration policies as governments respond to public concerns about job competition and resource allocation.


Let’s unveil the 2023 revenue figures for our globe-trotting student adventurers. Buckle up—we’re about to explore the treasure chests of education dollars!


United States (USA): In the 2022/23 academic year, the USA hosted a whopping 1,057,188 international students. These students contributed a staggering US$57.3 billion to the US economy. That’s like funding a moon mission!


United Kingdom (UK): Across the pond, the UK welcomed its fair share of global learners. Their revenue from international students reached US$25.5 billion. That’s enough to buy a few castles!


Canada: Our friendly neighbours up north continued their warm embrace. Canada pocketed a cool US$11.1 billion from tuition fees, maple syrup, and hockey sticks.

Australia: Down under, kangaroos hopped alongside international students. Australia’s revenue soared to US$19.8 billion—enough to host a koala tea party!


Ireland: The Emerald Isle might be smaller, but it’s no leprechaun when it comes to education. Ireland collected a respectable US$14.5 billion. That’s a lot of lucky clovers!


And there you have it—the global education economy in a nutshell! These countries aren’t just teaching; they’re also balancing their chequebooks.


These trends illustrate how economic conditions, public sentiment, and political landscapes can significantly influence immigration policies and the treatment of international students and migrants. The current situation reflects a continuation of these historical patterns, where economic pressures and public concerns are reshaping immigration strategies in many countries.


The geopolitics will prevail for some time until all the elections are over across the globe (a lot of them happening in 2024 and will continue till mid of next year). Eventually, the economics and rational thinking of the governments and policymakers will prevail. In this interim period, we have to just have patience.

4 views0 comments

コメント


bottom of page