Study Reveals Even 5 % Drop Of Indian Students To Canada Can Cost Trudeau Govt Over $700 Million in 2024

Imagindia Institute in its study revealed that the Canadian economy will take a hit of $700 million even if a mere 5 per cent drop is recorded in the number of Indian students going to Canada for higher studies in 2024.

Canada's diplomatic relations with India has been glooming for almost a month now and as per the recent study, the North American country could face an economic jolt of $700 million for accusing Indian government over a murder of its citizen. A New Delhi-based think tank, Imagindia Institute in its study revealed that the Canadian economy will take a hit of $700 million even if a mere 5 per cent drop is recorded in the number of Indian students going to Canada for higher studies in 2024.

According to the official reports, every year around 2,00,000 Indian students go Canada to pursue higher education. In 2022, about 2,25,000 students from India were granted visas to study in the North-American country. Post-study work permits is one of the lucrative deal for students to stay there after the completing education. In most of the cases, it spans from one to three years.

Study reveals fear among Indian students studying in Canada

According to the ETV Bharat, Robinder Sachdev, President of Imagindia said that Indian students go to Canada in three batches every year—In January, in May and in September. "Around one-third or 66,000 go to Canada during the January intake," he added.

The study further claims that the ongoing war between two nations has created fear among Indian students, which may lead to a drop in the number of students preferring Canada over other overseas destinations.

According to the study, the average total expense incurred by every Indian student in Canada is $16,000.

Sachdev said, "This includes laptop purchase, housing costs, bank security and air ticket."

"The total expense for two years of study and stay comes to around $53,000 per student. The total money injected per student into the Canadian economy over two years is $69,000," he added.

The study says that if a five per cent drop (3,300 fewer students) is registered in the January batch, the Canadian economy will be losing at least $230 million.

Canadian Universities reassuring Indian students of their safety

The study further says that if a similar drop is seen during May and September batches as well, the total loss to Canada will shoot up to $690 million. Lesser visa applications will also amount to lesser visa fees for the Canadian High Commission in India, a loss the study pegs at $3 million. The study further says that if a similar drop is seen during May and September batches as well, the total loss to Canada will shoot up to $690 million.

As per reports, Canadian universities are reassuring Indian students of their safety and offering resources to deal with the uncertainty triggered by the diplomatic crisis between the two countries.

As Canadian colleges prepare to kick off another semester, some students are considering delaying their courses, while others are assessing whether higher education could become collateral damage of the current crisis.