Overseas students contribute £28.8 billion to the UK economy each year

UK economy

According to recent research, international students contribute £28.8 billion to the UK economy each year, which equates to every resident being £390 better off. According to the research, the costs and advantages of foreign higher education students to the UK economy, international students bring a net economic gain of £25.9 billion throughout the UK, with a total expenditure of £2.9 billion on public services.
In 2018/19, the projected net economic effect of a ‘typical’ EU-domiciled student was £71,000 and £102,000 for non-EU domiciled students.

The study examines the contributions of overseas students in each of the UK’s 650 parliamentary seats. According to the publication, international students in Sheffield, Nottingham, London, Cardiff, Glasgow, and Newcastle are among those who make the most financial contributions. Vivienne Stern, director of UUKi, noted that there is a growing recognition of the great social and cultural advantages of foreign students.

While recent policy changes, such as the Graduate visa route, have created a more welcoming environment in many ways, the UK still needs to provide a greeting, make sure our academic offer keeps pace, and help foreign students safeguard fulfilling careers after study,  the present halving of EU students “confirms that future success cannot be taken for granted,” he added.

Following changes to the tuition price system for EU students following Brexit, the number of EU undergraduate degree course students was 56% fewer in early August 2021 than at the same period in 2020. Earlier last month, a UUKi report urged the government to promote the UK as a study destination by guaranteeing the success of the new Graduate path, lowering financial hurdles for foreign students, and promoting English language proficiency.

According to the most current UCAS undergraduate data, a record 46,610 students from outside the EU are ready to begin an undergraduate degree in the UK, a 5% rise over 2020 and a decade of growth.
UCAS will debut a new website for foreign students later this month, providing them with everything they need to make an educated choice about studying in the UK in one location.

It will help universities and colleges grow and diversify the range of applications they receive, as we focus particularly on new and emerging international markets, and it will support the goals of the international education strategy, making the country stand out as an accessible destination for international students.

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