Economic Contribution of International Students (Case of the Russian Federation)

Abstract

The number and mobility of international student is a sign of quality and prestige for universities and educational institutions. International student mobility impacts different aspects of global society, including socioeconomic, political, and cultural environment, science, and technology. In order to compete in the global educational environment and attract international students, Russia has been offering a wide range of programs where the English is the language of instruction. This paper offers a descriptive research and uses a systematic approach to analyze monetary gains of Russia brought in by international students. The research uses secondary data provided by official international organizations. The results show that 64.5% of the international students who studied full-time in Russian universities in academic year 2017 / 2018 were self-financed. Among the top 6 destination countries for international students, Russia spends the lowest percentage of GDP on education, has the lowest economic contribution of international students to GDP and total economic contribution of international students. International students in Russia spent around $637.5 million on tuition and $1,632.7 million on household expenses during the period of study. The aggregate income from providing Russian educational services to foreign citizens is $2,270.2 million.