The Economist has stated that in 2008 the international student market was worth £2.9 billion in fees and another £2.3 billion in spending to the UK economy.
Our guest writer is Ranjit Sidhu, founder of Statistics into Decisions
Earlier this month, immigration minister, Damian Green told the Today programme that the number of visas given to international students was “a hot political topic”. He misses the point – they are an economic necessity. Mr Green would not admit whether there was or was not a benefit to this country from these international students. The fact’s speak for themselves.
The Economist has stated that in 2008 the international student market was worth £2.9 billion in fees and another £2.3 billion in spending to the UK economy – a total of more than £5 billion. Another benefit was that, having studied here, individuals would be more likely to work with UK companies and organisations when they returned to their country of origin. This ‘soft power’ network has benefited the US for decades.
The Government argues that it is not a good use of resources that one-in-five foreign students stay after their visa has expired. But this 20 per cent of international students are not staying illegally. Instead, they will either be carrying on with postgraduate degrees (fees revenue) or finding employment (tax revenue). What is wrong with 70,000 young, gifted, hardworking people staying in the UK? With an aging population this should surely be desirable.
In 2010, the number of study visas increased by 35 per cent to 362,000. Assuming a pro rata increase in revenue, this implies £3.7 billion in fees and £3.2 billion in other expenditure. So over the last year, this export industry has brought an extra £1 billion in revenue into this country.
By targeting the 70,000 international students who choose to stay in this country after they have finished their course, the Government is failing in its role of promoting the British economy. Worst still, if it chooses to restrict this industry by limiting the number of study visas it will not only hamper our universities in the international market, but send a message across the world that the UK government is not behind its higher education sector.
If we do not want these young, intelligent, motivated people to provide billions of pounds in extra revenue, there are plenty of other universities around the world queueing to take them off our hands.
35 Responses to “Give the international student market the credit it deserves”
scott joy
Give the international student market the credit it deserves …: The Economist has stated that in 2008 the intern… http://bit.ly/cJ6xLH
Ranjit Sidhu
Thanks for the comments:
steve: – the economic value of the international student is clearly there in plain figures:.The international student market brings more rev than industries like advertising and does not recieve the credit it should get as an important industry to support of this country.
Steve + John Lees: Thanks for your comments, they are both opinions which I do not agree with. I prefer to relate to the facts above of the income that international student bring to the economy
StephenH: I agree- and this what many VCs know, therefore there is not a single Uni that isn’t pushing desperately for a slice of international student market with a shrinking UK student revenue model.
Young, motivated and providing billions to our economy- give the international student market the credit it deserves. | MYTHOS
[…] An edited version of this was published at Left Foot Forward […]
John Lees
Stephen – I doubt your genuine students are at risk, it is more the ones that seek to use bogus colleges to bypass controls. They make it more complicated for everyone else. Also if we allow students to stay on in the UK we are draining not helping their source contry.
Mike C
Well said. International students are a sign that we are exporting our eduction, and since Mr Cameron wants an export-led recovery I’m sure he’ll be very happy to see more arrive. Yes there are always some who abuse the system but then there is always some contraband in the export boxes at customs. We don’t shut down customs because of this. Many students who complete a degree are also legally allowed to find work for up to one year after their study in the UK is complete. The task for the government is to make sure we have a system which tracks students through their study and ensures they leave at the end if they are required to do so. I’m not sure why students are being targeted really. I would have though people coming in on tourist visa are much more likely to be a problem.