In the academic session 2021–22, international students contributed £41.9bn to the economy of the UK. The amount of contribution is higher than the contribution in 2018–19.
A recent report by various stakeholders in the UK revealed the economy of the country has been boosted by £41.9 billion through international students. As compared to academic year 2018-19, there is a boost in the country’s economy as a result of international students. As compiled by Universities UK International, Kaplan International Pathways, and HEPI, international students who are paying tax were worth just £4.4 billion.
According to the report, there is a net economic impact of £98,000 per student. As per the chief executive of UUKI, Jamie Arrowsmith, international students offer social and cultural benefits. He further mentioned that they should be proud of the good work universities are doing to attract international students.
Further, Gaven Conlon added that international students are adding 10 times more to the country’s economy than they take out. Moreover, when the hosting cost of international students was examined, it saw an increase of over £1 billion. After considering this rise in cost, a few reasons were brought forth, including inflation, the cost of dependents, and others.
Though European students are still attracted to UK universities, non-European students account for the largest group. The net impact caused by non-EU students in the UK is around £33.5 billion. The data reveals that every 11 non-EU students has an impact of £1 million. Even every nine EU students has an impact of £1 million. Linda Cowan, managing director of Kaplan International Pathways, reveals that success should not be taken for granted. This comes after she observes changes in her post-study work visa. Many feel that higher education is the most successful and crucial export