In three years, the economic contribution of international students to the United Kingdom has increased by a third, making them a significant contributor to the economy.
According to new analysis, the economic benefit that international students contribute to the United Kingdom has increased by a third over the past three years, boosting the economy by an estimated £42 billion in 2021/2.
As more international students choose to study in the UK, the economic benefit to the country increased from £31.3bn in 2018/9 to £41.9bn three years later, according to a report by London Economics.
The research, which was released on Tuesday, comes at a time when the government is contemplating imposing restrictions on international students coming to the United Kingdom as part of its efforts to reduce net migration.
According to reports, Prime Minister Rishi Sunak is preparing for a record-breaking increase in net migration this month. According to some estimates, the number could approach one million, up from 504,000 last year.
Ministers are believed to be considering visa restrictions for international students' dependents and reductions in their post-study work visa privileges, both of which would discourage prospective international students.
The Costs and Benefits of International Higher Education Students to the United Kingdom is a report published by Universities UK International (UUKi), the Higher Education Policy Institute (Hepi), and Kaplan International Pathways in partnership with London Economics.
Universities UK International director Jamie Arrowsmith stated, "We should be proud that our institutions continue to attract students from around the globe. It is essential that the United Kingdom continues to be an open and welcoming destination for international students, and that their contributions continue to be acknowledged and valued."
Since 2018/9, the number of new international students from non-EU countries has increased by 68%, while the number of EU students has plummeted as a result of Brexit. As the value of domestic tuition fees declines, universities have become increasingly dependent on international students and their higher fees.
The study, which focuses on the cohort of international students who began higher education in the United Kingdom in 2021/22, estimates that each of the United Kingdom's 650 parliamentary constituencies is £58 million better off as a consequence, or roughly £560 per citizen.
According to the report, international students studying in Glasgow, London, Sheffield, Nottingham, and Newcastle are among the greatest economic contributors. Even after accounting for dependents and the cost to public services, which the study estimates at £4.4 billion, international students are a net contributor of £37.4 billion to the UK economy, according to the study.
Dr. Gavan Conlon, a partner at London Economics, stated that international students contribute nearly ten times more to the economy than they take out, thereby enhancing both the local and national economy. Additionally, international students enable universities to conduct world-class instruction and research that would otherwise be impossible.
Nick Hillman, director of Hepi, added, "If there were to be additional changes to the regulations governing international students, they must be based on evidence, not whim. Therefore, this report is intended to strengthen the existing body of evidence."
Mark Corver, the director of DataHE, remarked, "This type of analysis, with generous economic multipliers on tuition fees and rents paid, will inevitably generate shockingly large economic benefits. Similar calculations for students in the United Kingdom, particularly if they accounted for their extended duration of post-graduation employment, would likely generate even larger figures for 'impact' on the economy.