Report revealed that the total economic benefits of hosting these students escalated from £31.3 billion ($38.96 billion) to £41.9 billion ($52.15 billion) between 2018-19 and 2021-22, representing a 34 percent increase.
Report revealed that the total economic benefits of hosting these students escalated from £31.3 billion ($38.96 billion) to £41.9 billion ($52.15 billion) between 2018-19 and 2021-22, representing a 34 percent increase.
International students are becoming increasingly important to local economies throughout the United Kingdom, according to a new report.
The study, “The Costs and Benefits of International Higher Education Students to the UK,” was a collaborative effort between Universities UK International, the Higher Education Policy Institute, Kaplan International Pathways, and London Economics..
Commissioned to investigate the economic impact of international students on the UK, the report revealed that the total economic benefits of hosting these students escalated from £31.3 billion ($38.96 billion) to £41.9 billion ($52.15 billion) between 2018-19 and 2021-22, representing a 34 percent increase.
Even after accounting for an estimated impact on public services of £4.4 billion ($5.48 billion), the economic benefits of hosting international students significantly outweigh the costs, yielding a total net benefit of £37.4 billion ($46.55 billion) to the UK economy.
The net economic impact of international students has increased dramatically over the past few years, with a 58 percent increase since 2015-16, from £23.6 billion ($29.37 billion) to £37.4 billion ($46.55 billion).
A significant driver of this growth is the 68 percent increase in the number of new international students from non-EU countries since 2018-19, totalling 350,145 in 2021-22, as noted in the report.
It was also indicated that every 11 non-EU students generate a net economic impact of £1 million (about $1,244,645) for the UK economy, or £96,000 (about $119,485) per non-EU domiciled student.
The study’s findings also highlighted the substantial financial contributions made by international students across various constituencies throughout the UK.
International students living in Glasgow, Newcastle, Sheffield, Nottingham, and London yield the highest financial contributions, with an average net economic contribution of £58 million ($72.19 million) per constituency, equivalent to approximately £560 ($697) per citizen.
The report showed that the UK’s higher education institutions continue to attract international students, with 381,000 first-year international students enrolling in UK universities in 2021-22.
The data also demonstrated the distribution of international students across England, Scotland, Wales, and Northern Ireland. Specifically, 98,825 new students were studying in London, 31,360 in Yorkshire and the Humber, 29,750 in the West Midlands, 27,680 in the Northwest, 24,835 in the East of England, 24,235 in the East Midlands, 18,715 in the Northeast, 44,085 in Scotland, 14,905 in Wales, and 12,615 in Northern Ireland.
Established in 2002, HEPI is a UK-wide, independent, and non-partisan organization dedicated to influencing higher education policy discussions based on solid evidence.
