RWI’s Synthetic Earth is a dynamic and interactive 5D geo-spatial holodeck environment for visualizing people, place, context and time-based scenarios through accessible, compelling lenses.
In 2024, the Canadian government announced caps on the number of international students. Today, in our series entitled ‘Spin the Earth,’ we’re utilizing Synthetic Earth to analyze the potential economic effect of those caps on the Edmonton Region.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐒𝐭𝐮𝐝𝐞𝐧𝐭 𝐂𝐚𝐩𝐬
Our external research revealed that the actual reduction in international study permits exceeds the cap set by the federal government.
There is additional uncertainty for those considering Canada as a study destination with other policies that increase cash requirements and tuition and decrease working hours, access to work permits and pathways to residency.
Although the federal government projected a 35% decrease, the analysis found a 48% drop in international study permits for 2024 compared to the previous year. Canada slipped from 3rd to 6th as a preferred study destination between 2023 and 2024. There are no signs that this downward trend has stopped, making “what if” scenarios of particular interest.
What do percentage drops look like in terms of economic effects?
Utilizing Synthetic Earth, we dialled forward the economic ramifications of losing potential international students in the Edmonton Region for industry, growth, and communities.
With a 35% reduction in international students (5,016 fewer), there was a loss of $235 million in GDP, 2,307 fewer jobs and $41 million less in tax revenue in the Edmonton Region.
And at a 75% reduction? $504 million GDP loss, 4,944 fewer jobs and an incredible $88 million loss in potential tax revenue.
Seeing forward in Synthetic Earth provides our REAL members with the ability to quantify and activate intelligent planning and action to support regional success.
This insight is a critical piece in avoiding staggering losses today and tomorrow.
#SyntheticEarth #YEG #InternationalStudents #ImmigrationPolicy
