International Students Contributed Over $40 Billion to US Economy in 2022/23

More than one million international students studying in the United States during the 2022/23 academic year contributed $40.1 billion to the American economy, according to NAFSA: Association of International Educators.

Although it remains below the pre-pandemic record of $40.5 billion in 2018/19, this figure is an increase of $6.3 billion or 19 percent compared to 2021/22, Erudera.com reports.

The NAFSA’s report published on November 13 highlights that the number of international students at US universities and colleges has now recovered from the decline reported during the pandemic era.

Data showed that international students have supported a total of 368,333 jobs, both within their educational institutions and in their communities. This is a significant increase of almost 10 percent compared to a year earlier and a 20 percent rise compared to the year when the COVID-19 pandemic forced the closure of America's borders.

California benefited the most from international students, with 138,393 students contributing a total of $6 billion to the state's economy and supporting over 55,000 jobs.

New York follows closely, with 126,782 international students contributing $5.8 billion to the state’s economy while supporting 50,430 jobs. Texas secured the third spot on the list, with 80,757 international students spending $2.2 billion in the state, resulting in the support of 21,568 jobs.

International students contribute by paying tuition fees to US universities and colleges and spending on meals, housing, transportation, and other stuff during their stay in the US.

The 2023 Open Doors report released by the Institute of International Education (IIE) revealed that the number of international students in the United States reached 1,057,188 in 2022/23, 12 percent more than in the previous academic year.

The rise in international student enrollment at US higher education institutions is the fastest in four decades.

“Over one million international students studying in the U.S. reflects a strong rebound, with the number approaching pre-pandemic levels. This reinforces that the U.S. remains the destination of choice for international students wishing to study abroad, as it has been for more than a century,” said Allan E. Goodman, IIE CEO.

The two main sources of international students in the US continue to be China and India. However, the number of Chinese students in US higher education has declined by 0.2 percent to 289,526 students, whereas the number of Indians increased 35 percent, to 268,923 students.

While graduate student enrollment increased by 21 percent, driving the overall increase in international students, undergraduate numbers are up only 0.9 percent.

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