International students put £266m into Lewisham's economy
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International students contribute more than a quarter of a billion pounds to the economy of Goldsmiths’ home borough of Lewisham over the course of their studies, a new analysis shows.
Global students make a net contribution of £266 million across the three parliamentary constituencies in Lewisham, according to research from the Higher Education Policy Institute (HEPI).
Goldsmiths is a major driver of this, with the majority of these students living in the constituency of Lewisham North which includes our campus in New Cross. In addition to the economic contribution, international students also bring huge social and cultural benefits to our area.
And in a challenge to recent tightening of international study rules by the UK government, the data shows that the income far outweighs any costs.
Our international students make a huge social, cultural and academic impact on life in Lewisham, and we are immensely proud of this. Their financial contribution to our home borough is also critical with the income supporting business and initiatives across Lewisham.
Professor David Oswell, Goldsmiths' Interim Vice-Chancellor
Professor Oswell added: “It is critical that the government realises how vital these local contributions are when added together as a real benefit to the wider UK economy.
“Rather than putting up barriers as we have seen, the government must take steps to ensure that the UK remains a top destination for international students.”
The HEPI research looked at the impact of international students who began their higher education studies in academic year 2024/25. The study considered the economic benefits of international students, including through tuition fee income and the ensuring effects throughout the UK economy associated with UK universities’ spending of this international fee income on staff, goods, and services.
It also considered the income associated with the living cost expenditure of international students, and the subsequent knock-on effects of this expenditure throughout the wider economy.
Finally, it took into account the income associated with the spending of friends and family visiting international students whilst studying in the UK.
How international students contribute to Lewisham's economy
- Lewisham East £41.3m
- Lewisham North £208.3m
- Lewisham West and East Dulwich London £16.4m
The analysis undertaken for HEPI by London Economics found that the total net impact on the UK economy of the 2024/25 cohort of international student entrants – more than 400,000 students – was estimated at £40.4bn across the duration of their studies.
The estimated total benefit to the UK economy was approximately £45.1bn (including £23.4bn of direct benefit and £21.7bn of indirect and induced benefit), while the estimated total costs were £4.7bn. HEPI said this implies a benefit-to-cost ratio of 9.7.