Australia's PBSA market is set to expand, driven by a rapid rebound in international student arrivals and a pressing shortage of purpose-built accommodations.
Insight
Australia’s PBSA sector: A market poised for growth
Source: JLL Research, ABS
The education sector plays a significant role in contributing substantial revenue to Australia’s economy, with China traditionally leading as the largest source of overseas students. In FY 2022-23, China contributed AUD 8.7 billion to Australia’s education export income, representing 24% of the total revenue. However, India is rapidly emerging as a major contributor, generating AUD 5.9 billion and accounting for 16.3% of Australia’s total education export income during the same period.
With India’s middle class growing at the fastest pace globally, the demand from Indian students is expected to continue its upward trend. While growth is anticipated from other countries such as Nepal, Colombia, and the Philippines, these are projected to increase at a comparatively modest pace. The influx of students from India is reflective of the diversifying landscape of international students in Australia.
Figure 2: Advanced Economies – GDP and Population (2023-32 p.a.)
