Overseas students ‘add £20bn’ to UK economy
International students are worth £20bn to the UK economy, says a report from the Higher Education Policy Institute.
The analysis says on top of tuition fees, their spending has become a major factor in supporting local economies.
London alone gains £4.6bn – with Sheffield the biggest beneficiary in proportion to its economy.
The think tank’s director, Nick Hillman, says the figures support calls to remove students from immigration targets.
There are about 230,000 students arriving each year for university courses in the UK – most of them postgraduates, with China the most common country of origin.
Spending power
The analysis, carried out by London Economics, calculated the financial contribution of overseas students, such as spending on tuition and living expenses, and balanced that against costs, including the extra pressure on local services and non-repayment of loans.
Mr Hillman says the report provides comprehensive evidence that overseas students are a significant benefit and that students from outside the European Union, who pay higher fees, are worth £102,000 each to the UK economy. Read more…