The figure of 62,410 international students transitioning to permanent residency in Canada marks a notable increase compared to the 52,740 international graduates who made this transition in 2022, reflecting a growth of 9,670 individuals.
The figure of 62,410 international students transitioning to permanent residency in Canada marks a notable increase compared to the 52,740 international graduates who made this transition in 2022, reflecting a growth of 9,670 individuals.
A total of 62,410 international students, technically classified as international graduates, obtained permanent residency in Canada in November 2023, according to the latest data from Immigration, Refugees and Citizenship Canada.
The figure of 62,410 international students transitioning to permanent residency in Canada marks a notable increase compared to the 52,740 international graduates who made this transition in 2022, reflecting a growth of 9,670 individuals.
The reported figure of international students obtaining permanent residency in Canada primarily includes individuals who pursued this pathway by building eligibility through work experience post-graduation. This process is facilitated by the Post Graduation Work Permit.
Study destination
Canada stands out among popular international student destinations by offering specific pathways for foreign graduates, allowing them to secure employment and explore immigration opportunities following the completion of their studies.
The country’s immigration opportunities are among the key factors contributing to its status as one of the most popular destinations for international students.
A significant portion of new permanent residents in Canada each year consists of former international students who come to the country for educational purposes and have the chance to establish eligibility for Canadian permanent residence.
Decrease in study permits issued to Indians
On the other hand, the dramatic decline in the issuance of Canadian study permits to Indian students in late 2022 has become a significant topic in international education and diplomacy. This downturn, as reported by a top Canadian official to Reuters, can be traced back to a series of diplomatic tensions and policy changes between Canada and India.
Immigration Minister Marc Miller indicated that the reduction in study permits is linked to a diplomatic dispute following the murder of Sikh separatist leader Hardeep Singh Nijjar in Canada.
Miller said, “Our relationship with India has really halved our ability to process a lot of applications from India.”
Canadian Prime Minister Justin Trudeau, in June, stated that there was evidence of involvement by Indian government agents in Nijjar’s murder in British Columbia, a claim that has added to the friction between the two nations.
Economic forecasts for 2024
During the 2024 Annual Economic Outlook, a panel discussion hosted by the Economic Club of Canada, chief economists of major Canadian banks convened to provide their economic forecasts for 2024.
They are cautioning that Ontario must swiftly reduce the number of international students at its post-secondary institutions to address inflation, particularly in rental rates. Inflation, which, although expected to decrease from the peak levels witnessed in 2022, is anticipated to remain a challenge for the Bank of Canada.
The era of the Bank of Canada employing ultra-low interest rates to stimulate inflation and achieve its two-percent target, which persisted before and during the pandemic, was described as a “hangover” from the 2008 financial crisis by Doug Porter, Chief Economist at BMO Financial Group.
Reducing allowable work hours
Canadian Immigration Minister Marc Miller recently unveiled measures to address challenges allegedly caused by a surge in international students, including reducing the allowable work hours aimed at tackling issues like rental shortages attributed to the influx of foreign students.
Canadians are encountering growing difficulties in finding affordable housing, with rents increasing by 7.7 percent in December compared to the previous year, as reported by Statscan.
