Study: Foreign Students Added to Economy - New York Times While foreign students at American colleges and universities are most often singled out for their scientific and cultural contributions, their growing numbers help make them an increasingly important economic force as well, according to a new report from the Institute of International Education.
In the 2006-7 school year, the report found, international students’ net contribution to the United States economy was nearly $14.5 billion — up a billion dollars from the previous year, the largest annual increase to date.
“These are foreign people buying an American product, and the Department of Commerce says international education is our fifth-largest service export, bigger than medical services,” said Allan E. Goodman, president of the institute, a nonprofit organization that promotes international study. “It’s a huge factor in a lot of cities, including New York, where international students contribute about $1.5 billion, more than the Yankees, the Mets, the Rangers, the Knicks and the Giants combined.”
