International students contributed record US$43.8 billion in 2023/24

The estimate in NAFSA’s research is a 9.3 per cent increase compared with the previous year and comfortably surpasses the previous record of US$41 billion set in the 2018/19 academic year.

The figure is based on a record 1,126,690 international students enrolled at colleges and universities in 2023/24, according to the latest Open Doors report by IIE released this week, and calculates tuition costs, accommodation and other student spending.

International students also supported 378,175 jobs in 2023/24, a two per cent increase over the previous year. Every three students in the USA create one job, NAFSA Association of International Educators estimates.

California was the state with the largest economic impact from international students at US$6.4 billion, followed by New York (US$6.3 billion), Massachusetts (US$3.9 billion), Texas (US$2.5 billion), and Illinois (US$2.4 billion).

International students contributed US$43.8 billion to the US economy in 2023/24.

“International students’ contributions to the U.S. are significant and multi-faceted, and this year’s record-breaking economic total is the latest proof of that,” said Fanta Aw, NAFSA Executive Director and CEO.

“Yet we cannot be complacent. The annual increase in economic activity is about half of what it was the year before, signaling that the pent-up demand for a U.S. education following the pandemic is subsiding. Meanwhile, competition for the world’s best and brightest is increasing. The United States must adopt more proactive policies to attract and retain global talent. We cannot afford to lose international students’ meaningful positive impact on American students’ global competence, our economies, and our communities, particularly in the areas of STEM-related research and innovation.”

NAFSA is calling for policies including dual intent, meaning that student visa applicants would no longer have to prove that they have no interest in working in the USA after graduation, and clearer pathways to permanent residency for international graduates.

International students at community colleges in the USA contributed a further US$2.0 billion, which was a 33 per cent increase compared with the previous year, and supported 8,472 jobs.

And international students enrolled in US college and university English language programs contributed an additional US$371.3 million, a slight increase of 0.4 per cent over the previous year, and supported 2,691 jobs. This sector remains some 47 per cent below the pre-pandemic contribution of US$697.2 million in 2019/20.