Commonwealth Scholarships Make Economic Sense to the UKÌý
The ÌÇÐĹÙÍø has published aÌýpolicy briefing paperÌýexaminingÌýthe economic impact of Commonwealth Scholarships on the United Kingdom.ÌýThis paper is the first in a series of policy briefing papers published by theÌýÌÇÐĹÙÍø,ÌýandÌýlooks at the economic impact of the 2023/24 group of Commonwealth Scholars on the UK economy and considers whether public funding for the programme represents good value for money. The analysis is based on established research by London Economics on international students.Ìý
For the 2023/24 cohort, 394 Commonwealth Scholars have studied at 78 universities and institutions across the UK across four ÌÇÐĹÙÍø programmes. Our study estimates the economic benefits generated by these scholars through their tuition fees, everyday living costs, and spending by visiting friends and family. It also takes account of the public costs, including both the use of public services as well as the direct costs of running the scholarship programme such as tuition fees, living allowances, research and travel grants, and administrative costs.Ìý
Overall, the analysis findsÌýaÌýtotal economic benefitÌýof £34 millionÌýgenerated by the 2023/24 cohort over the course of their studies, compared with total costs of £22 million.ÌýThis means the programme delivers a net economic benefit of £12 million.ÌýPut another way,Ìýfor every £1 invested, the UK economy gains £1.60 in return.Ìý
On average,Ìýeach Commonwealth Scholar contributes around £32,000 more to the UK economy than they cost. Taken together, 32 scholars generate £1 million in net economic benefit over their period of study. ThisÌýeconomic impact isÌýalso spreadÌýacross the UK. London sees the largest benefit (£2.5m), followed by Scotland (£2.1m) and the Midlands (£1.7m).ÌýÌý
These findingsÌýshow thatÌýCommonwealth Scholarships represent a strong economic investment for the UK, as the programmeÌýreturns more money to the UKÌýduring scholars’ studies alone. This is in additionÌýtoÌýall the benefits thatÌýoccurÌýafter their scholarships,Ìýincluding further economic impactÌýandÌýtheirÌýimpactÌýonÌýsustainableÌýdevelopment and soft power.Ìý
The full policy brief can be read here.Ìý