According to new data, between 2018–19 and 202–22, the economic benefit of international students increased from £31.3 billion to £41.9 billion. International students in Glasgow, London, Sheffield, Nottingham, and Newcastle are among those who will contribute the most financially.
International students are a significant net contributor to the UK economy. Even after taking into account costs for dependents and other expenses. On average, each of the 650 parliamentary constituencies in the UK is £58 million better off as a result of international students. This equates to about £560 per citizen. As per the recent data, the UK economy benefited significantly from the inflow of overseas students. During the academic year 2021–2022, to the tune of $41.9 billion.
The costs and benefits of international higher education students to the UK, published by Universities UK International (UUKi), the Higher Education Policy Institute (HEPI), and Kaplan International Pathways in partnership with London Economics. (The entire report and a summary are both accessible.)
The analysis, which was ordered to investigate how international students affect the UK economy, shows the total economic benefits. Further, it was increased by 34% between 2018–19 and 202–22, from £31.3 billion to £41.9 billion. The findings also show that, even after taking into account the effect on public services (estimated at £4.4 billion), the financial advantages of hosting overseas students well outweigh the disadvantages.
Net Economic Impact of Overseas Students
Over the previous few years, there has been a sharp increase in the net economic impact of overseas students. This has increased by 58% (from £23.6 billion to £37.4 billion) since 2015/16. One factor contributing to this is the 68% increase in new international students from non-EU nations (350,145 in 2021/22) during 2018/19. Data from the paper show that every eleven non-EU students have an economic impact of £1 million, or £96,000 per non-EU domiciled student, on the UK economy.
On Tuesday morning, HEPI will organize a free event in London where the study’s findings will be presented. Information on how to register in person or online may be found here. The event will demonstrate international students residing in Sheffield, Newcastle, and Glasgow. In order to deliver greatest financial support per constituency equivalent to approximately Euro 560 per citizen.
Throwing light on the global appeal of the country’s higher education institutions. Also, cementing the UK as one of the leading destinations for overseas students.
Revealing Number of Overseas Students Across England
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