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The Economic Impact of the University of Exeter's International Students

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The Economic Impact of the University of Exeter's International Students The Economic Impact of the University of Exeter’s International Students APRIL 2012 Contents Foreword 1 Foreword Executive summary 2 The University of Exeter is proud to be home to over 5,000 outstanding students The economic impact of Exeter’s international students 6 from outside the United Kingdom. Drawn from 140 different countries, and located Fees 7 across our campuses in Devon and Cornwall, our international students have a Subsistence 12 hugely positive impact on the life of the University and our local communities. Additional visitor impact 16 It is particularly gratifying to see the large numbers of local residents who join us in celebration of the many cultural events that occur on our campuses, such as Total contribution to Exeter and South West GDP 19 Diwali and Chinese New Year. In turn, as part of this intercultural exchange, our Impact on employment 20 students learn to explore and experience our own local traditions, valuing the Catalytic effects of international students on Exeter’s GDP 22 safe and welcoming environment that residents in Exeter and Penryn readily offer. Friendships forged in the South West of England today will benefit us all long into Comparing 2012 to 2010 23 the future. At a time of considerable international economic The figures are impressive enough on their own, uncertainty, we should also acknowledge the but of significance is the fact that since we last positive impact our international students have on conducted a similar analysis, in April 2010, the local jobs and local investment. This report, by contribution to Exeter’s GDP from the presence of Oxford Economics, calculates that impact on both international students has increased by 54%, while the Exeter and South West economies. supported employment has increased by 36%. By evaluating the amount of tuition fees paid to the As a leading British and international university, Ten reasons to choose University, along with spending on living expenses Exeter is committed to attracting the brightest and by friends and relatives visiting from abroad, and best students from around the world. For Oxford Economics demonstrate how the presence our local and regional economies, it is essential the University of Exeter of international students at the University of Exeter that the United Kingdom continues to welcome economically benefits the local community. Their international students to its shores. This report independent conclusions are extraordinary. shows that attracting such talent is having a positive and profound impact on us all. International students at the University contribute over £88 million a year to Exeter’s GDP and support 2,880 jobs, which is equivalent to 2.8% of all employment in the city. Looking at the wider region, these students contribute over £104 million Professor Neil Armstrong each year to the South West economy, supporting Senior Deputy Vice-Chancellor (Internationalisation) 3,280 jobs. April 2012 The Economic Impact of the University of Exeter’s International Students 1 Executive summary Impact on Exeter Impact on the South West International students studying at the University of The overall contribution to the South West Exeter will contribute an estimated £88.3 million of England’s GDP from Exeter’s international to Exeter’s GDP in 2011/12 (at current prices), students is an estimated £104.4 million, supporting nearly 2,880 jobs, which is equivalent supporting 3,280 jobs across the region. to 2.8% of all employment in the city. 2 www.exeter.ac.uk/international The Economic Impact of the University of Exeter’s International Students 3 Foreword Executive summary (cont.) …with subsistence spending contributing a For example, contact that is initially made by further £39.2 million to GDP in Exeter… individuals studying in Exeter may eventually lead to There are 5,477 international students (defined as other economic links; in later life these students will The University of Exeter’s international students will pay around non-UK domiciled students attending UK-based often move into important roles in their home or £55 million in tuition fees… courses) at the University of Exeter in 2011/12, other countries and the links they have forged with representing an increase of 35% in numbers the UK during their education will tend to build a We estimate that the University of Exeter will derive around £54.9 compared to 2009/10. We estimate that the predilection for UK culture, goods and services. total subsistence expenditure of these students million of revenues from tuition fees from all international students The contribution to Exeter’s GDP from the will amount to approximately £63.3 million. Once presence of international students increased allowing for purchases and multiplier effects we find in the 2011/12 academic year. This will contribute an estimated by 54% between 2009/10 and 2011/12, while that the impact upon the city’s GDP will be around supported employment increased by 36% £46.4 million to the city’s economy in total, through direct and £39.2 million. The fees earned from international students at the multiplier effects. …and visits by friends and relatives contributing a University of Exeter increased by 82% between further £2.7 million to Exeter’s GDP in 2011/12 2009/10 and 2011/12, which translates into an Our estimates for the total amount of spending by increase in the contribution to the GDP of the international visitors to Exeter, whose primary reason economy of Exeter of 54%. for entry is to visit a student at the University, will be The total number of jobs supported in Exeter by £4.7 million in 2011/12. Adjusting for purchases and international students has increased from 2,120 multiplier effects we find that the impact on GDP will to approximately 2,880, equivalent to a growth of be around £2.7 million. 36%. In total, international students studying at the University of Exeter will contribute £88.3 million International students enrolled at the University of to the city’s GDP in 2011/12 (at current prices), Exeter now support 2.1% of the city’s GDP and supporting nearly 2,880 jobs, which is equivalent to 2.8% of its employment 2.8% of all employment in the city… The role that international students play in supporting the economy of Exeter has grown substantially since …but the catalytic effects mean the overall 2009/10, with the contribution to GDP increasing contribution of Exeter’s international students to from 1.6% to 2.1%, supporting 2.8% of Exeter’s the economy is far wider than these direct and jobs compared with 2.3% in 2009/10. multiplier effects These wider benefits are more intangible and so less easy to quantify, but nevertheless ultimately have a very real impact upon the economies of both the city and the UK. These economic benefits result from the social and cultural links created as a consequence of international students studying in the city. 4 www.exeter.ac.uk/international The Economic Impact of the University of Exeter’s International Students 5 The economic impact of international students at the University of Exeter The economic impact of international Fees Data provided from the University of Exeter’s Table 2.1 overleaf presents the estimated fee students at the University of Exeter internal financial planning systems provided a revenue generated from international students at breakdown of projected income from tuition fees the University of Exeter in 2011/12, disaggregated for the academic year 2011/12 by degree type by degree level, and student origin. The table, This section of the report examines the total economic contribution of (Undergraduate or Postgraduate), study mode (Full- together with Chart 2.1, shows that for each level international students who undertake courses at the University of Exeter time or Part-time), and fee status (Home / EU or of study, the primary source of international student International). fee income is from Non-EU students – a result that in the 2011/12 academic year. This contribution is segmented into three is not surprising given the differential of the fees The data however does not distinguish between UK- components of spending: levied on Non-EU and EU students (for example a and non-UK domiciled students qualifying for Home full-time EU undergraduate pays £3,375 per year, / EU fee status. To overcome this gap, combining • Tuition fees paid; while a Non-EU student doing the same course will data on the headcount and “Fee Bands” by school, pay either £11,900 or £14,500 depending upon the • Subsistence purchases by international students; and domicile, and campus provides a basis for estimating area of study). All-told international students at the fee income from non-UK domiciled EU students. University of Exeter will spend an estimated • Visits by friends and relatives from abroad to students while they As a cross-check these estimates were compared £54.9 million on fees for the 2011/12 academic year. with the University’s own forecasts, which suggest are studying at the University. that 6% of the population of Home / EU fee paying students were from a non-UK origin. Figure 1: The economic impact international students on the city of Exeter economy Contribution to GDP (£ million) + 2.7 Catalytic 39.2 Visits 46.4 Subsistence Coursefees 1,620 1,140 120 + Employment (Number of jobs) 6 www.exeter.ac.uk/international The Economic Impact of the University of Exeter’s International Students 7 The economic impact of international students at the University of Exeter Table 2.1: Breakdown of estimated tuition fee revenue from international students 2011/12 (£ million) Fee Income (£m) Non-UK, EU Undergraduate 2.2 Non-EU, Undergraduate 20.4 Non-UK, EU Postgraduate 0.7 Non-EU, Postgraduate 20.1 INTO students 11.5 Total Fee Income 54.9 Source: Oxford Economics/University of Exeter Chart 2.1: Share of tuition fee revenue from international students 2011/12 by origin/level 100% Undergraduates 80% Postgraduates 60% 40% 20% 0% Non-UK, EU Non-EU Source: Oxford Economics/University of Exeter From this fee income, we have estimated the which spreads out to other sectors, for example direct1 contribution to local (city) and regional electric power or cleaning services, and therefore, GDP.
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