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Nearly 10 times more is contributed to the UK economy than taken out by international students

Nearly 10 times more is contributed to the UK economy than taken out by international students

Nearly 10 times more is put into the economy than taken out by international students. According to the Partner at London Economics, this has boosted both local and national economic well-being. The Partner at London Economics had been commissioned to conduct the analysis. However, universities are also allowed by international students to undertake world-class teaching and research. Otherwise, this would not be possible. The success of the universities in attracting international students must be applauded as one of the most significant export industries of the UK.

According to a report, the economy of the United Kingdom is experiencing a positive net impact due to international students, including Indians. At a time when concerns about a crackdown on international student visas are looming as a part of the UK government’s efforts in order to reduce the mounting immigrating levels, a Leading UK higher education institutions’ report has been released in London.

Indians – the second-largest cohort of international students

Indians represent the second largest cohort of international students coming into the UK to study in its universities as per the 2020-21 data. Hence, Indians represent 87,045 first-year enrolments. However, it is behind China which has 99,965 enrolments and ahead of Nigeria which has 32,945. The report claims a 96,000 pounds per non-European Union (EU) student benefit to the economy, focusing on the 2020-21 statistics. This covers students from countries which include India.

Nearly 10 times more is put into the economy than taken out by international students. According to the Partner at London Economics, this has boosted both local and national economic well-being. The Partner at London Economics had been commissioned to conduct the analysis. However, universities are also allowed by international students to undertake world-class teaching and research. Otherwise, this would not be possible. The success of the universities in attracting international students must be applauded as one of the most significant export industries of the UK.

The organization has been commissioned by Universities UK International (UUKi), the Higher Education Policy Institute (HEPI), and Kaplan International Pathways in order to conduct the analysis. This analysis is to be conducted amid the ongoing political debate that relates to potential reductions in post-study work visa rights and potential visa restrictions for dependents of international students. The Home Secretary, according to UK media reports, is looking to reduce the incoming dependents of overseas students as it has been increasing the already soaring migration figures.

A faster increase in the number of international students

There is a faster increase in the number of international students. In spite of mixed messages from policymakers, this reflects the attractiveness of the UK to prospective students who wish to become better through education. If any changes are to be introduced further to the rules on international students, then it is necessary that such changes must be introduced on the basis of evidence rather than whims. Therefore, the existing evidence base will be strengthened using this report. In the run-up to the next election, there is an overwhelming hope that it will be read by every candidate in every constituency for every major political party.

It has been revealed in “The costs and benefits of international higher education students to the UK” that from foreign students, the total economic benefits have increased to 41.9 billion pounds from 31.3 billion pounds between 2018-19 and 2021-22. This has marked an increase of 34 per cent. From the data, it has also been confirmed that with a total net benefit of 37.4 billion pounds to the UK economy, the economic benefits of hosting international students outweigh the cost significantly. It is indicated by the data from the report that 1 million pounds worth of net impact is generated by every 11 non-EU students for the UK economy.

The UK should remain an open and welcoming destination

Therefore, it is necessary for the UK to remain an open and welcoming destination for students coming from across the globe. Moreover, their contribution to the economy must also be recognized and valued. However, according to the more recent census data, it can be seen that Indians have overtaken the Chinese, in fact, in terms of study visas alone.

The relatively new Graduate Route visa that was introduced in July 2021 provides international students with the chance to stay on and work after they complete their degree. This is largely considered as the reason behind this increase. Moreover, it is more likely to make the country less attractive, if there is an introduction of the clampdown on visas, especially to Indian students.

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