A study by the British Council published today reveals that the value of UK Education exports was some £28 billion in 2003/4. This remarkable figure takes account of the significant number of foreign students who travel from other countries to study in the UK. A sizable proportion of the £28 billion is linked to private training provision for business and industry. The value of the education industry to the UK is significantly higher than financial services sector which brought £19 billion during the same period.

The British Council study reveals just how important education and training can be as a contributor to export growth in other countries. The development of a ‘knowledge economy’ is an important part of national export growth and helps put investment into universities, colleges and local training provision into perspective.