Economic Overview of Netherlands and What it Means for International Students

The Netherlands as a study-abroad destination has recently started to generate a buzz. A push from the Universities has led to students getting up and taking notice of the many possibilities the excellent universities in the Netherlands offer. Not only are they among the top-ranked universities, but the many courses in English, the relatively lower fee structure as well as the use of English as a second language have also all favoured the Netherlands as a brilliant study abroad destination. The easy Student Visa Processing along with the prospect of the Orientation Year for the Post Study Work Permits for the Netherlands all make it a good alternative to the otherwise famous destinations of France and Germany. But it is not just about the rules that make it a good place. What also must be considered are the economic conditions that would directly affect your cost of living during your studies and your job prospects after. In this article, we discuss the economy of the Netherlands and how it would affect your plans to Study in the Netherlands.

Economic Growth Rate

As per the OECD data, the Netherlands’ economy expanded by 4.3% in 2022. According to a report by the Government of the Netherlands, the Dutch economy recovered quickly from the COVID-19 impact since 2021. At that time, the number of bankruptcies was at a historic low, the number of people at work was high, and the national debt was under control.

According to DNB forecasts, 0.8% economic growth is expected in 2023 and 1.6% in 2024. If talk about Gross Domestic Product (GDP) in The Netherlands, it was worth 1018.01 billion dollars in 2021 as per the official data from the World Bank. According to the Trading Economics global macro models and analyst expectations, GDP in the Netherlands is expected to reach 950.00 USD Billion by the end of 2022. In the long run, the GDP is expected to trend around 990.00 USD Billion in 2023.

What Does this Mean for International Students?

The stable economy and the ability of the country to withstand a European crisis promise hope. With companies looking towards an international community and many Dutch companies finding steadier revenue sources, opportunities are aplenty for International Students. Furthermore, the Netherlands has recently opened up to the International Student community, going forth to invite the best talent from all over the globe. It is predicted that in the ensuing years, it would only improve and provide a home to an increasingly international population of skilled workers.

In 2021, there were approximately 10.9 million jobs in the Netherlands. In the coming two years, the number of jobs is expected to increase. The forecasts suggest that there will be approximately 11.2 million jobs in The Netherlands by 2023. The most in-demand job sectors in the Netherlands in 2022 are Agriculture, Finance, Engineering, IT, Hospitality, and Education.

The number of university students in the Netherlands grew over time with enrollment especially rising between 2019 and 2020, when 24,100 students enrolled in the university. The increase in the number of university students is mostly because of an increased number of international students coming to the Netherlands for their studies. In the last decade, the number of enrolled international students doubled. Whereas in 2008 less than 40,000 international students were studying in the Netherlands and it grew by 86,000 by 2018.

So, whether you are looking to get a bachelor’s degree, diploma program, master’s degree, or a PhD, the Netherlands is a great option. After completing your education in the Netherlands, there will be plenty of career opportunities. Holland has fast-growing industries and maintains a noteworthy position in the business world

Simply put, if you are planning to study in the Netherlands, then it is a good decision and you should not worry about building a future in the country! The companies are good to work with, English is a primary business language and the first step – education, is amongst the best in the world!