Some 1,044,898 internationals enrolled at Spanish institutions in the 2018-2019 academic year. Their overall economic impact on the Spanish economy amounts to near €3.8 Bn and the multiplier effect for student spend is 2.27, which means that for each euro spent on their academic program, these international students spent an additional 1.27 euros on a broad range of sectors of the national economy, explains the study The Economic Impact of International Students in Spain, promoted by ICEX and Eduespaña.