Canada will limit the number of foreign students due to the housing crisis
The Canadian government is planning to limit the influx of foreign students into the country due to the housing crisis. Immigration Minister Mark Miller announced this on CTV. The extent of the reduction has not been specified yet.
Official data indicates that in 2022, there were over 800,000 students with valid visas in Canada, compared to just 275,000 a decade ago. Canada's popularity among international students is attributed to the relative ease of obtaining a work permit.
"This level of volume is concerning. The system is spiraling out of control," admitted the Canadian minister.
While the Canadian government actively promotes immigration to fuel the country's economic growth amidst an aging population, the surge in migrants and foreign students is straining the housing demand beyond the market's capacity to meet it.