A recent joint statement from UK universities have once again reiterated the importance of cooperation between them and the national government for the local economy while also highlighting five most important issues the next PM must deal with, says Studying-in-UK.org.
According to official data, education is one of the most profitable sectors for the British economy. Current official statistics show education generates £95 billion to the national economy. Moreover, international higher is the largest sector of export in the UK contributing billion pounds to the national economy each passing year. It is estimated that the UK’s current earnings from education exports stand at £13.1 billion collected from university fees, accommodation and other costs.
On June 11, 2019, the UK universities released a joint statement under which they emphasized their huge impact in the national economy and the importance of close cooperation with the national government for maintaining these financial benefits.
On the same document, the UK universities listed the five most important areas to which the next prime minister must give priority in his political agenda for education. According to the UK, the next PM must solve the following issues in order to strengthen their economic role
- Student Experience
- Science, research and innovation
- Sustainable funding
The standpoint of British higher education has been one of the areas to which the now-PM, Theresa May has received most criticism during her mandate. The failing of her Government to deliver Brexit and the lack of an efficient international education strategy has caused universities to doubt their legacy and fear their own future.
After the results of Brexit referendum were made known in June 2016, the UK universities feared a loss of enrollment from EU students and that they would suffer severe financial losses.
A few weeks ago, Theresa May announced her resignation from her duty and this brought hope to universities that their concerns would be finally heard and taken more seriously.
To this date, the UK ranks as the world’s second most popular study destination hosting over than 458,000 international students coming from all around the world. However, many other countries are working hard to expand their international enrollment to gain advantage from numerous financial and social benefits it brings along the way. That said, the maintaining of international enrollment in this competitive market will remain a challenge for the future of British universities and education authorities.