Chinese, Indian and Nepalese students alone brought in $2.4 billion for the state's 10 universities, which was close to the total income raised by domestic students fees, according to a 2019 audit.
Overseas students were generating more income for NSW universities than government grants for the first time last year, before the coronavirus pandemic cut international enrolments by more than 13 per cent.
The annual Auditor-General's report found universities were suffering from the consequences of an over-reliance on international student revenue. The Auditor-GeneralUniversities Australia this week revealed the country's universities could lose $16 billion between now and 2023, under new modelling which considered the sustained effect of COVID-19 on finances.
By contrast, revenue from domestic students grew just 2.2 per cent, by $92.3 million, and made up 19 per cent of total income. At the University of NSW, the University of Sydney and the University of Wollongong, overseas students brought in more money than domestic students.Government grants continued to decline as a portion of universities' total income, worth 31 per cent of revenue last year.
But they also needed to consider the impact of the pandemic on their governance arrangements, risks and regulatory requirements, the report said.
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