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  • What are international students giving back to the UK economy? Latest reports say it all!
Doodle Nandi
12 Jan 2018 273 2 mins Share

What are international students giving back to the UK economy? Latest reports say it all!

Almost £20 billion is contributed by international students to the UK economy. The recent pilot visa scheme will welcome more international students in the country

12 Jan 2018 273 2 mins Share
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UK economy grows with increase in number of international students

According to a recent report, international students contribute £20 billion every year, to the major parts of the UK economy. The report was published after a joint research made by the London Economics and jointly published by the Higher Education Policy Institute and Kaplan International Pathways. The UK parliamentary constituencies analysed the costs and benefits of having international students in the country.

Based on the latest research report, the cost of hosting international students amounts to £2.3 billion and the returns are 10X higher than the investment, which is exactly £20.3 billion. 

As per the PIE news, every 15 EU student and every 11 non-EU student generate £1 million worth of the net economic impact for the UK economy (£68,000 for each EU student and £95,000 for each non-EU student on average).

Nick Hillman, the director of Higher Education Policy Institute, said: “international students bring economic benefits to the UK that are worth 10 times the costs of hosting them. However, he added, in the past the Home Office has not accepted figures on the benefits on the grounds that they ignore the costs".

He added: “We welcomed the government’s decision to ask the Migration Advisory Committee to investigate international students. We now implore ministers and civil servants as well as the MAC to take this new evidence with the seriousness that it merits”.

With this great report comes a great hope of letting more number of international students study in the country and relaxing the visa policies for international students. However, the UK did release a report on the pilot visa scheme for international students that would help them start their job search early on.

This new scheme which was introduced in 2016 in 4 UK varsities, including Oxford, Bath, Cambridge and Imperial College, was extended in December 2017 to 23 universities. The 23 universities will follow the pilot scheme for their 2018-19 intake, effective from January 2018.

Under this pilot scheme, international students studying in the UK who want to look for job options in the country, after completing their degrees, can do so now because they have additional 6 months in hand to stay back.

According to the Office of National Statistics, between April 2016 and April 2017, over 7,400 Indian students left Britain, before their visas expired, leaving behind around 2,209 students who chose to extend their visas.

Perhaps now these numbers will transform for good!

The list of 23 universities in the UK that have joined the student visa pilot scheme:

  1. Newcastle University
  2. Queen’s University Belfast
  3. University of Sheffield
  4. University of Leicester
  5. University of East Anglia
  6. University of Liverpool
  7. The Royal Central School of Speech and Drama
  8. University of Bristol
  9. Durham University
  10. University of Edinburgh
  11. University of Essex
  12. University of Exeter
  13. University of Glasgow
  14. University of Manchester
  15. University of Nottingham
  16. University of Reading
  17. University of Southampton
  18. University of Wales Trinity St. David (Swansea Campus)
  19. University of Warwick
  20. University of York
  21. Goldsmiths University of London
  22. Harper Adams University
  23. Cardiff University

What do you think of this article? Does it make you think to reconsider your study options abroad and look at the United Kingdom with more hopeful eyes!

Sources: The PIE News and INDEPENDENT

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