The financial benefits of a university education, and the demand for it in the world’s richest countries, are both increasing, according to figures published today.

Students are increasingly looking to study abroad. But where they are going is shifting, with universities in countries including the Russian Federation capturing more demand, while others, including traditional favourites such as the United States and the United Kingdom, losing some of their market share.

A university education is a good long-term investment, the report from the Organisation for Economic Co-operation and Development (OECD), based in Paris, France, says. On average across OECD countries, a man with a tertiary education will generate US$119,000 more in income taxes and social contributions over his working life than someone with just an upper secondary level of education, the report finds.

“Good education increases employability,” says Angel Gurría, OECD Secretary-General. “In countries hit early by the recession, people with lower levels of education had more difficulties finding and keeping a job.”

Over 3.3 million students were enrolled in tertiary courses outside their home country in 2008 (the year for which the most recent complete figures are available), a 10.7% increase from 2007.

China and India export the most students, with Chinese students making up 17% of all international students enrolled in OECD countries.

Universities in eight OECD nations have increased their share of the international student market over the past decade, including the Russian Federation, which rose by 2%, and Australia, Korea and New Zealand, which each rose by 1%.

The United States still attracts 19% of overseas students, but this has dropped from 26% in 2000. The United Kingdom and Germany have fallen by 0.1% and 1.28%, respectively, over the same period. The British media has criticized the nation’s performance (Guardian, Telegraph).