5 effects of inviting foreign students

Foreign student attendance could have a multi-faceted impact on the UK.

11:22 04 May 2013

The UK is trying to encourage students from other countries to come and participate in higher education in an effort to bolster both the economy and the cultural diversity of the region.

 

They are also hoping to foster improved relationships with countries such as Mexico and Colombia. There are other financial benefits from having a greater influx of students, such as increased credit card applications.

 

• Spending—this directly relates to cash flow, so even though students are typically thought of as “poor”, the reality is that they still require certain items. More students’ means increased overall spending via credit card and debit cards.

 

• Visibility—for many businesses, an influx of students means greater visibility in other countries; online credit card and debit card purchases may result.

 

• Banking—depending on regulations, there may be an increase in establishment of savings accounts and debit cards.

 

• Tourism—increased awareness of the area, the different shopping and business opportunities, and the cultural heritage may all increase tourism to the area, as well as credit card and debit card expenditures.

 

• Business—with improved relations between more countries it could mean better business relationship between other countries, and other benefits for businesses.

 

At this point, one of the best things for the UK economy would be the credit card and debit card use for student’s purchases. Increasing the number of students coming from outside the country is one way to help increase the cash flow in the economy. Businesses may be able to hire more people which could help the economy.