"This school year, American colleges and universities saw a 17% decline in new international student enrollment. If you set aside the year of the pandemic, that's the steepest decrease in over a decade. This reduction is making waves far beyond the halls of higher-ed. Based on my recent analysis, it represents a nearly $1 billion hit to the U.S. GDP - a hit that's particularly concentrated in the Main Street sectors that form the backbone of many communities."
"The employers taking the largest hit are in the restaurant industry (700 jobs), retail (350 jobs), and residential and commercial property rental (345 jobs), and auto repair (100 jobs). This is where the science of input-output analysis meets the art of economic impact analysis. We don't know exactly which specific firms will be impacted. But from my experiences on campus across the country, these are exactly the types of main street college town businesses that exist near campus and serve students of all types."
A 17% decline in new international student enrollment lowered numbers from 298,705 to 277,118, producing nearly a $1 billion reduction in U.S. GDP. Non-tuition spending by 21,587 fewer students caused approximately 7,300 fewer jobs and $500 million in lost labor income. The largest employer losses occurred in restaurants (700 jobs), retail (350), residential and commercial property rental (345), and auto repair (100). Occupations most affected include retail sales workers (390), food and beverage servers (370), home health aides (290), health care diagnostics workers (280), and material moving workers (260). International students' high consumer spending circulates through local economies, affecting housing, food, transportation, healthcare, and retail.
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