Foreign students yield big money

The international student industry has the potential to become a sector worth $3 billion to $4 billion a year to the economy, says Education NZ.

The industry, which includes private and public providers of education to foreign students, has already experienced massive growth, estimated at $1.1 billion in the year to June last year.

That has already put the industry in the top 10 foreign exchange earners - as big as the wool industry and four times the size of the wine industry.

Education NZ, established in 1999 to help institutions export education services, says there is potential for even more growth.

Auckland has the largest slice of the industry's cake, now injecting $450 million annually into the Auckland economy.

Education NZ says more than 52,000 foreign students are estimated to have studied here last year.