The economic impact of international education in Ontario
Canada lags well behind other developed countries in attracting and retaining the brightest and best students necessary to build a competitive knowledge based economy.
Recently, however, the federal government and some provinces such as Ontario have taken steps to become a destination of choice for international students. Ontario has introduced changes making it easier for highly skilled Ontario-trained international graduates to stay in the province and help us compete in the global economy.
A 2009 study of the economic impacts of international education shows that, in Ontario alone, international student contribute over $2 billion to Ontario’s economy in direct spending and account for over 24,000 permanent jobs.
| By the Numbers: The Economic Impact of International Students on Ontario’s Economy in 2008 | |
| Number of Foreign Students (all levels) | 65,833 |
| Total Spending on tuition, accommodation and discretionary spending | $2.16 billion |
| Total government revenue | $102.7 million |
| Employment | 24,420 |
Vigorously competing to attract the brightest and best students pays enormous long and short-term benefits. While the short-term benefits aren’t insignificant, the real dividends appear in the long run as Canada will have the capacity to be a leader in creating high-tech jobs.
Sources:
Roslyn, Kunin and Associates, Economic Impact of International Education in Canada. July 2009