US, UK, Canada, Australia Gain $1T

The report “Talent Beyond Borders” by Studyportals and Cambridge IELTS estimates that international students graduating in 2024 will contribute $1.7 trillion to host economies over their working lives, with the United States, United Kingdom, Canada and Australia capturing about $1 trillion, or 60%.

International graduates contribute beyond direct economic output through innovation, entrepreneurship, international professional networks, mentoring, research, higher education, knowledge transfer and stronger country-to-country links.

A 2019 estimate based on 2016 data placed the economic impact of international students during their studies at $300 billion. Combined with the projected $1.7 trillion lifetime contribution of the 2024 graduating cohort, the associated economic contribution is estimated at around $2 trillion, although the figures cover different periods.

The report distinguishes between “Stayers”, who build careers in their study destinations, and “Homecomers”, who return to their countries with overseas skills and networks; long-term value depends on post-study choices, not merely enrolment and tuition revenue.

Canada retains the highest share of international graduates at 66%, followed by Australia at 53%, Germany at 49%, Ireland at 45% and the United States at 44%.

By country of origin, India has the highest representation among Stayers at 63%, followed by Iran at 60%, Nepal at 56%, Bangladesh at 54% and Lebanon at 47%; these figures are measured across all study destinations, unlike destination-country figures.

Among Stayers, education is the largest employment sector at 26%, followed by manufacturing at 9%, software and information technology at 8%, corporate services at 7% and financial services at 6%.

Post-study work visas and skilled-migration pathways help international graduates enter local labour markets, gain professional experience and potentially settle permanently, though some remain temporarily before returning home or relocating elsewhere.

The report estimates that 35% of international graduates are Homecomers. By country of origin, Kenya has the highest share at 50%, followed by South Africa at 49%, Sri Lanka at 48%, Indonesia at 47% and the United Arab Emirates at 46%.

By study destination, South Africa records the highest proportion of returning international graduates at 51%, followed by India at 47%, Spain at 43%, and China and Czechia at 40% each; these are average outcomes for all international graduates studying in those countries, not specifically Indian students.

Among Homecomers, Business and Management is the most common field of study at 21%, followed by Social Sciences at 11%, Computer Science and Information Technology at 8%, and Engineering and Technology at 7%. After returning home, 17% work in education, while software and IT and the non-profit sector account for 9% each.

The findings imply that countries competing for skilled workers should evaluate international education through the broader lenses of talent retention, diaspora mobility, innovation, entrepreneurship, knowledge transfer and international cooperation, rather than only student numbers and tuition income.