International students add a net economic benefit of £28.8 billion across every part of the UK, out of which roughly £2.9 billion is spent on public services, which is a whopping increase from 2018 of £22.6 billion.
As per the research, an average estimated net economic impact by a 'typical' EU-domiciled student reached £71,000 and £102,000 per non-EU domiciled student in 2018/19.
Nick Hillman, HEPI Director, affirmed the report by saying that, "This report confirms higher education is one of the UK's greatest export earners. The benefits reach every part of the UK, from Land's End to John O'Groats."
Emphasizing the research, the report also highlighted the fact that a cumulative intake of international students residing in Sheffield Central added £290 million, marking the maximum intake and followed by Nottingham South £261 million, Holborn and St Pancras £243 million, and Newcastle upon Tyne East at £240 million.
East Ham £217 million and Cambridge at £214 million were followed by Cardiff Central £181 million and Glasgow Central £171 million which summed up the list and shared almost near symmetrical data with one another.
Besides these notable mentions, the 2018-19 survey also shed some light that Orkney and Shetland and Nah-Eileanan An lar, both present in Scotland, marked an attendance of fewer than 45 international students gained £6m and £5m respectively.
"There has been a growing realization of the tremendous social and cultural benefits of international students," said Vivienne Stern, director of UUKi. But the report suggested a somewhat less popular notion that needs to be solved immediately. And with the start of fresh semesters, the UK administration is doing everything to make up to the lost year in 2020.
The COVID-19 pandemic has hit the UK Education industry far disastrously than anyone would've expected. According to the research, the undergraduate degree course students from the EU were 56% lower in early August 2021 than at the same time last year.
A majority of students are now choosing various new countries to pursue further education due to the changes made to the tuition fee structure for EU students after Brexit.
"After Brexit and the pandemic, the long-term challenges facing the UK economy have never been greater," explained Gavan Conlon, who is a partner at London Economics.
With lots of competition from abroad destinations, the UK government is doing everything under their control to ensure their esteemed reputation stands firm in this period of turmoil.
This year, 46,610 students from outside the EU are expected to initiate an undergraduate degree in the UK which marks a 5% increase over 2020 and continuing over a decade of increases.
Later in September, the UCAS Committee is also slated to launch a new student help portal that will allow students to make better-informed decisions, providing all the relevant information about studying in the UK in one place.