Canadian Economy Sees Record $31 Billion Impact From International Students In 2022

In a significant boost to the Canadian economy, international students contributed approximately $31 billion and supported around 361,230 jobs in 2022, according to the Government of Canada.

International student boost economy

The updated analysis by Global Affairs Canada (GAC) highlights that international students spent about $37.3 billion on tuition, accommodation, and discretionary items last year, as reported by erudera.

The GAC update states, “After accounting for Canadian scholarships and bursaries, the total annual expenditures of international students, including their visiting families and friends, contributed $37.3 billion to economic activities in Canada in 2022. This translates into a $30.9 billion contribution to Canada’s GDP in 2022, or 1.2 percent of Canada’s GDP”.

According to erudera reports, this economic impact represents a significant increase over the years. For instance, in 2014, international students contributed $11.4 billion to the Canadian economy, a figure that steadily grew to $12.8 billion in 2015 and $15.5 billion in 2016. The dramatic increase to $37.3 billion in 2022 underscores the growing importance of international students to Canada’s economic landscape.

Based on these figures, international student spending in Canada more than doubled between 2016 and 2022. Meanwhile, the number of jobs international students supported during the same years was: 122,680 jobs in 2014, 140,010 jobs in 2015, 168,860 jobs in 2016, 361,233 jobs (or 246,310 FTE positions) in 2022.

In 2022, Canada hosted over 844,444 international students, with Indian students making up a significant portion of this demographic. There were 319,130 Indian students with study permits in Canada that year, contributing substantially to the rise in long-term international students.