International students generate 20 billion GBP (22.6 billion EUR) for the UK economy for their entire period of study, says a report by the Higher Education Policy Institute. The analysis indicates that, in addition to training fees, student costs are becoming a major contributor to helping local economies.
Only London earns 4.6 billion GBP, and Sheffield is the largest beneficiary in proportion to its economy. The figures support the call for students to be removed from immigration restrictions.
Every year, about 230,000 university students arrive in the UK, with China being the leader with the most students in the UK.
The analysis by London Economics calculates the financial contribution of foreign students as learning and living expenses. The report provides compelling evidence that foreign students are of significant benefit and that students from non-EU countries who pay higher fees generate 102,000 GBP per person for the UK economy.
The international students have economic benefits for the UK, which are worth over 10 times the cost of meeting them. Fewer international students would mean far fewer jobs in all parts of the UK because international students spend money in their universities and in local economies, including sandwich shops, bicycle shops, taxi companies, nightclubs, bookstores.
London has the largest share of foreign students, but the survey shows that in relative terms smaller cities with more than one university can get greater benefits.