This year’s statistics update from the Tertiary Education Quality and Standards Agency also finds university revenue streams are diverse — with nearly 80 per cent of revenue from sources other than international students.

Universities Australia Chief Executive Catriona Jackson said the success of Australia’s international education sector was the result of decades of diligent nurturing.

“International education is an inspiring success story for Australia — one that has been tended carefully and strategically over the past 60 years,” Ms Jackson said.

“International students are some of the world’s best and brightest talent. And they are choosing — in rising numbers, out of all the options before them — to study in Australia.”

“That is a major endorsement for Australia’s high-quality universities.”

“International students contribute not only to the Australian economy, but also to the insights and perspective that Australian students acquire in internationalised classes.”

“The personal friendships they forge during these years also enhance Australia’s trade, diplomacy and national security interests in the decades ahead.”

The Statistics Report on Registered Higher Education Providers 2018 shows Government investment continues to be the bedrock of public university finances.

But our universities are alarmed that the $2.1 billion in cuts to federal Government funding inflicted last December will bite harder in university budgets from 2018 onwards.

“For each year it is in place, this funding freeze will bite even deeper into university budgets,” Ms Jackson said.

“University funding cuts weaken our country’s future with a potential double whammy. Not only do they erode the number of funded university places for Australian students, but they also risk eroding the quality that attracts our international students.”

“It’s time to end this uni funding freeze and reinvest in a smart and successful future for Australia.”