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UK education exports worth £28 billion
Thursday, 20 September 2007
The value of UK education, as an export, is £28 billion, new research has shown.
The study conducted by the University of Sheffield suggests that, including fees and living expenses, international students are highly valuable to the British economy.
Explaining the figures, chief executive Martin Davidson of the British Council said: "It's fantastic to have the true financial value of education to our economy confirmed.
"Fundamentally this report shows the shift of axis of our education system from one that operates predominantly domestically to one that operates on a truly international basis."
He added: "However, our position is vulnerable. Unless we start taking education much more seriously as a global business, we will lose out to other countries who understand the value of education to their economy much better than we do."
According to a report by the British Council, the value of international students stood at £8.5 billion in 2003/04 - a 39 per cent increase on two years previously.