A recent Global Affairs Canada (GAC) analysis revealed that international students contributed $30.9 billion to Canada’s GDP in 2022. This substantial figure was largely driven by their $37.3 billion spending on tuition, accommodation, and discretionary items.
According to ICEF Monitor, education exports, measured by the total value of international students, accounted for 23 percent of Canada’s total service exports and 1.2 percent of its GDP for the year. International student spending in 2022 surpassed the value of several key Canadian export categories, including wood products ($25.7 billion), fertilizers ($17.9 billion), and electrical machinery ($19.2 billion).
Over the past two decades, Canada has seen a significant increase in international students. The number of study permit holders has increased more than sixfold, with every province and territory experiencing growth.
While Ontario attracted the most international students, Prince Edward Island saw the highest percentage increase, with a rise of over 1,800 percent from 2000 to 2022.
By the end of 2022, Canada hosted 807,260 international students, with foreign enrolment growing by more than 30 percent that year. India was the largest source country, with nearly 320,000 students holding active study permits. Other countries with notable increases in student numbers included the Philippines, Hong Kong, Nigeria, and Colombia.
GAC reported that 97 percent of the economic impact from international students in 2022 came from those enrolled in long-term programs lasting six months or more. On average, each long-term international student spent $53,800.
In 2024, Canada plans to stabilize growth by reducing the number of new study permits issued to about 360,000. This measure aims to restore the integrity of the international student system.
Provincial and territorial caps have been set to ensure fairness, particularly in regions experiencing unsustainable growth. These temporary measures will last two years, with a reassessment of new study permit applications at the end of the period.
The post Canada Sees $30.9B GDP Boost from International Students appeared first on CI News | Latest Canada Immigration News.
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