Executive summary

Existing literature, as well as the previous studies on the economic impacts of international education conducted by Roslyn Kunin and Associates (RKA) for Global Affairs Canada, clearly indicates that there is a significant positive value associated with international students studying in Canada. The current study updates previous studies with more recent data and assesses the economic impact that international students studying in Canada in 2024 had on the Canadian economy.

We estimate that, in 2024 international students in Canada spent around $47.5 billion on tuition, accommodation and discretionary items. The economic impacts presented in this report focus on the combined direct and indirect impacts associated with such spending.

The results of the study are highlighted below:

• After accounting for Canadian scholarships and bursaries, the total annual expenditures of international students, including their visiting families and friends, contributed $47.5 billion to economic activities in Canada in 2024. This translates into almost $39.0 billion contribution to Canada’s GDP in 2024, or 1.4% of Canada’s GDP.
• Ontario, with the largest number of students, made the largest contribution to GDP with $20.2 billion (51.7% of 39.0 billion), followed by British Columbia, with 18.9% and Quebec, with 13.4%.
• An important metric in economic impact analysis is the number of jobs supported. International students’ overall annual spending in 2024 translates to 407,262 jobs (the equivalent of 281,040 FTEs) supported in the Canadian economy in 2024.
• International students’ annual spending directly and indirectly contributed $9.4 billion in government tax revenue in 2024.
• Because international students’ expenditures represent revenue for goods and services from overseas, they are Canadian exports of education services.
• In 2024, the value of international education services, as measured by total spending by international students in Canada ($47.5 billion), amounted to 20.1% of Canada’s total service exports to the world ^{Footnote 1} and equaled 6.1% of Canada’s total merchandise exports.
• The top 10 source countries accounted for $32.8 billion in international student spending in 2024, which is equivalent to 64.4% of the value of the total service exports to these countries, or 72.3% of Canada’s total merchandise exports to these same countries.
• In 2024, long-term international students accounted for 97.9% of the total spending by international students. They contributed $38.2 billion to Canada’s GDP and supported almost 400,000 jobs.

Key results of the study are summarized in the following tables.