A research published by the Higher Education Policy Institute (HEPI) and Universities Uk International (UUKI) examined the economic benefits emanating from the presence of International students in the UK.
It revealed that a full year’s intake of International students in universities within Britain generated economic activity equivalent to £390 per person per year. This figure rises to more than £700 for every inhabitant within London.
272,000 International students who began their studies in the 2018-2019 academic session would have generated close to £26 Billion in net economic activity. This figure factors in the cost of teaching support and the students’ use of public services.
This outstanding economic statistic implies that only 10 International students would generate circa £1 million in net economic impact over the duration of their studies.
The cash inflow into the UK economy from this study is based on tuition fees as well as other living expenses of the International students. Also considered were the benefits evidenced in job creations, consequent remuneration and increased spending power.
The study highlighted that the economic benefits from International students in the UK disproportionately exceeds the costs to public services such as healthcare and teaching grants from the government. All these expenditures including NHS spending, police and education only amount to £2.9 billion.
Interestingly EU students now pay the same amount of fees as other Internationals since the completion of Brexit. This has predictably led to a 50% decline in the number of EU students accepting place in undergraduate programs in the UK. The figure currently stands at less than 10,000 in the year 2021.
An earlier published study by UUKI revealed that the UK was losing attractiveness to International students.
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