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The US, UK, Canada and Australia are expected to account for around $1 trillion of the estimated $1.7 trillion that international students worldwide who graduated in 2024 will contribute to host economies over their working lives. The four countries, which are among the leading destinations for international students, are projected to capture about 60 per cent of the total economic value generated by this cohort.

The report “Talent Beyond Borders” by the online platform Studyportals and Cambridge IELTS argues that international graduates contribute beyond their direct economic output. They can support innovation and entrepreneurship, build international professional networks, mentor others and strengthen links between countries. Their work can also contribute to research, higher education and the transfer of knowledge across borders.

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For countries competing for skilled workers, the findings suggest that the value of international education extends well beyond student enrolment and tuition revenue. The longer-term contribution also depends on what graduates do after completing their degrees, whether they stay in their study destination or take their skills and experience back home.

A global estimate published in 2019 put the economic impact of international students during their studies at around $300 billion, based on 2016 data. When this is considered alongside the projected $1.7 trillion in lifetime contributions from the 2024 graduating cohort, the total economic contribution associated with international students and graduates is estimated at around $2 trillion.

These figures cover different periods and stages of international education. The $1.7 trillion estimate relates specifically to the working lives of graduates, rather than the revenue universities and local businesses earn while students are enrolled.

The report identifies different pathways taken by international graduates after completing their degrees. While some build careers in the countries where they studied, others return to their home countries with the skills and professional networks they acquired overseas.

Among the study destinations covered by the report, Canada has the highest proportion of international graduates who remain in the country, at 66 per cent. Australia follows at 53 per cent, while Germany records 49 per cent, Ireland 45 per cent and the US 44 per cent.

The report also identifies India, Iran, Nepal, Bangladesh and Lebanon as the countries of origin with the highest representation among graduates classified as Stayers, accounting for 63 per cent, 60 per cent, 56 per cent, 54 per cent and 47 per cent, respectively. These figures measure outcomes by graduates’ country of origin across all study destinations, whereas the destination-country figures measure outcomes among international graduates in each country, regardless of origin.

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For those who remain abroad, education is the most common employment sector, accounting for 26 per cent of Stayers. Manufacturing accounts for 9 per cent, followed by software and IT at 8 per cent. Corporate services and financial services account for 7 per cent and 6 per cent, respectively.

The report links graduate retention partly to policies that help international students enter local labour markets after completing their degrees. Post-study work visas and skilled migration pathways can enable graduates to gain professional experience and, in some cases, settle permanently. However, some remain only temporarily before returning home or moving to another country.

The report finds that 35 per cent of international graduates are Homecomers, returning to their countries of origin with the knowledge, skills and professional networks developed overseas. Kenya has the highest share of Homecomers by country of origin, at 50 per cent, followed by South Africa at 49 per cent, Sri Lanka at 48 per cent, Indonesia at 47 per cent and the United Arab Emirates at 46 per cent.

When measured by study destination, South Africa has the highest proportion of international graduates returning home, at 51 per cent. India follows at 47 per cent, while Spain records 43 per cent and China and Czechia 40 per cent each. These destination-country figures represent the average outcomes of international graduates studying in those countries, rather than the proportion of Indian students returning home specifically.

Business and Management was the most common field of study among Homecomers, accounting for 21 per cent, followed by Social Sciences at 11 per cent and Computer Science and IT at 8 per cent. Engineering and Technology accounted for another 7 per cent. After returning home, 17 per cent worked in education, while software and IT and the non-profit sector each accounted for 9 per cent.