The ongoing diplomatic dispute between Canada and India over the June 2022 killing of a Sikh separatist in Canada could result in a major financial impact on Canada’s universities, and affect housing demand as schools wait to see if Canada matches India’s recent decision to stop issuing visas to Canadians, according to new analysis from STR.
A reciprocation on the Canadian government's part could prevent about 230,000 Indian students from entering Canada, which would have a major financial impact on Canada’s universities and real estate.
About 41 per cent of Canada’s foreign students come from India, which sends more international students to Canada than any other single country. There are 230,000 Indian students and 700,000 non-resident Indians in Canada, according to the High Commission of India in Ottawa, which reports that Indian students pay around $4 billion in tuition fees to Canadian educational institutions.
Indian students have also played a role in Canada's housing crunch, which has seen the national vacancy drop to 1.9 per cent at the end of 2022 from 3.1 per cent a year earlier. Canada plans to host 900,000 international students next year, according to Immigration Minister Marc Miller, who recently told Parliament that the practice is “very lucrative,” a reference to the higher tuition fees paid by foreign students to attend Canadian universities.
The High Commission of India in Ottawa has issued an advisory for Indian Nationals and students to “exercise utmost caution” in Canada, citing “threats [that] have particularly targeted Indian diplomats and sections of the Indian community who oppose the anti-India agenda.”
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries.
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