International Graduates Who Stay May Add US$1.7 Trillion
Table of Content
Key Highlights
- International graduates from the class of 2024 who stay to work in their study country are projected to add about US$1.7 trillion to host economies over their careers, according to Studyportals and Cambridge IELTS.
- About 41% of graduates stayed and took their first job in their study country, 35% returned home and 24% moved to a third country.
- Canada retained 66% of its international graduates, the highest rate among the 15 destinations studied, compared with 44% in the US and 40% in the UK.
- Stayers accounted for 59% of engineering and technology graduates and 56% of computer science and IT graduates.
International graduates who stay and work in the country where they studied are projected to add about US$1.7 trillion to host economies over their careers. The estimate comes from a report published by Studyportals and Cambridge IELTS on 15th October 2026. Until now, most estimates of international education have stopped at tuition fees and living costs. This report titled Talent Beyond Borders:The Global Impact of International Graduates goes a step further to measure what graduates produce once they enter the workforce. These findings arrive as two of the three largest student destinations restrict routes that keep graduates in the country.
This report assessed the 2024 graduating class. Of the 7.3 million international students enrolled worldwide in 2023, about 2.67 million graduated in 2024. Around 41% of them, roughly 1.2 million graduates took up jobs in their study destination. In their first year of work, they generated about US$110 billion in output. When projected over a 40-year working life, with allowance for graduates to leave over time, that output was ascertained at the US$1.7 trillion figure. Including what the cohort spent while studying, the authors estimate the combined value of international students and graduates about US$2 trillion, although the two figures cover different periods in the report.
Stayers, Homecomers and Nomads: Where Graduates Go Next
The report sorted graduates by the location of their first job. Around 41% of graduates stayed in their study country, 35% went back to their home country and 24% moved to a third country. The report labelled them "Stayers", "Homecomers" and "Nomads" but it stresses that the three paths are not a ranking, because each creates value in a different way.
A graduate’s country of origin also shaped the final outcome. For instance, graduates from India, Iran and Nepal were the most likely to stay back, at 63%, 60% and 56%, respectively. Those from Kenya, South Africa and Sri Lanka were the most likely to return home, at 50%, 49% and 48%, respectively. Nomads were most common among graduates from France and Italy at 34% each and Spain, at 32%, reflecting the ease of moving within the EU.
The field of study is another important factor highlighted in the report. Stayers accounted for 59% of engineering and technology graduates, 56% of computer science and information technology (IT) graduates and 48% of medicine and health graduates. The education sector was the largest employer of Stayers at 26%, followed by manufacturing at 9% and software and IT at 8%.
Canada's Retention Edge Rivals US Scale
Notably, the stay rates in the report varied sharply by study destination. Canada retained 66% of its international graduates, ahead of Australia at 53%, Germany at 49%, Ireland at 45%, the US at 44% and the UK at 40%. These variations impact the scale of economic return. The US generated the largest lifetime value at US$359 billion, mainly because of its cohort size. Canada came close at US$331 billion, despite hosting about half as many international students as the UK. The UK ranked third at US$196 billion. Together, the three countries accounted for 52% of the global lifetime value.
The value was further concentrated in the traditional Big Four countries: the US, the UK, Canada and Australia. These markets hosted 35% of international students but produced almost 60% of the first-year output. Over a lifetime, this translates to about US$1 trillion, which is similar to Switzerland’s GDP in 2025. This advantage is closely tied to language: English-taught programmes, which enrol an estimated 54.5% of international students, accounted for 75% of the first-year output.
What the Projections Do Not Cover
The US$1.7 trillion is a modelled estimate that covers Stayers only. The report does not suggest that Stayers contribute more than Homecomers or Nomads, only that their output is simply easier to measure. About two-thirds of the lifetime value comes from years 9-40 of graduates’ careers, which the model has projected.
The underlying data stems from Studyportals' Graduate Outcomes dataset, which tracks more than half a million international graduates. The report’s authors acknowledged the data may not be fully representative. Chinese students are under-represented because many international platforms are restricted in China. The focus destinations also excluded China, Russia, South Africa and Argentina, so the country rankings are not a fully global representation. The authors added that some Stayers may be working below their skill level.
Call for Clearer Pathways From Study to Work
The authors argued that student recruitment is only the first step. To capture this value, they recommend that host countries need:
- Clearer transition routes from study to work.
- Early access to career guidance.
- Better recognition of international qualifications.
- Stronger alumni networks for graduates who return home or move on.
The report cited Germany, which has expanded post-study work rights and pathways to longer-term settlement, as an example. It concluded that the largest gains may go to countries that let graduates work at their skill level, not those that enrol the most students.
Top Beneficiaries Tighten Post-Study Work Routes
Canada introduced a cap on study permits in 2024 and has lowered it since. In November 2025, Immigration, Refugees and Citizenship Canada set its 2026 target at 408,000 permits, 7% below 2025 and 16% below 2024. Only 155,000 of those permits are reserved for new arrivals. Similarly, in the UK, the Graduate Route for bachelor's and master's graduates will shorten from 2 years to 18 months for applications made from 1st January 2027. The UK Home Office cited evidence that many graduates were not moving into graduate-level employment.
Together, Canada and the UK account for about US$527 billion of the cohort's projected lifetime value. Canada's cap shrinks the pool of future graduates. The UK's change shortens the window in which graduates can become Stayers. If retention drives the return as much as the report suggests, these measures can risk part of that value.
(Writing by Kajol Mangtani, Editing by Shivani Singh)