New research from London First and PwC shows international students are a boon to the UK, bringing a net benefit of £2.3 billion to the UK economy from London universities alone.
The report, London Calling: International students’ contribution to Britain’s economic growth, concludes that the capital’s higher education system is an export success story, with 92 per cent of students saying they would recommend studying in the UK to their friends and family.
It dismisses the myth that international students are a burden on public services, such as the NHS. Instead, they were shown to contribute a total of £2.8 billion through the spending they bring to the country, while only consuming £540 million in public spending.
The main results:
•London’s international students bring a net benefit of £2.3 billion per annum to our economy represented by £2.8 billion in fees and spending, less the £540 million cost of providing them with public services, including the NHS.
•International students support nearly 70,000 jobs in London because of the money they spend here.
•60% of students including alumni said they are more likely to do business with the UK as a result of studying here; they go home understanding our values and principles.
•And this benefit is not ours alone – the students themselves have benefited – 60% said that studying in London has improved their career prospects either at home or in the UK.
But a proportion of students also reported negative experiences:
•More than one third of the students surveyed found that Britain’s immigration system, particularly its complexity, negatively affected their experience of studying here. A vast majority of students also went on to comment about the difficulty of securing work in the UK after they had completed their studies.
Chosen excerpts by Job Market Monitor. Read the whole story at International students: a £2.3 billion British success story | London First.