Canada’s efforts to reduce the influx of foreign students are proving more impactful than anticipated. A report by The Globe and Mail, referencing an analysis by ApplyBoard, predicts a staggering 50% decrease in international study permit approvals by 2024. India, historically a leading source of international students, has witnessed a dramatic decline this year. The report reveals that in the first half of 2023, study permit approvals from India have been slashed in half. This trend is mirrored across the board, with Universities Canada president Gabriel Miller expecting a minimum 45% decline in international enrollments for the upcoming fall semester. ApplyBoard forecasts that by the end of 2024, study permit approvals could dwindle to the mid-200,000s, a figure last seen in 2018 and 2019. These projections stem from Canada’s tightened immigration policies. In December 2022, Immigration Minister Marc Miller announced a substantial increase in the financial requirement for Canadian study permits, demanding a minimum of $20,000, double the previous amount. Further tightening measures were implemented in January 2023, when the minister declared that Canada’s foreign student population would remain stagnant for the next two years. This shift in policy has yielded significant consequences. Meti Basiri, CEO and co-founder of ApplyBoard, has pointed to the government’s announcement of higher financial requirements as a deterrent for prospective international students. The report suggests that many potential students are now delaying or abandoning their applications to study in Canada, opting instead to pursue opportunities in other countries. As a result, Canada has slipped to third place on the list of preferred study destinations, with the United States, Germany, and France now attracting more international students.
