As a result of the UK referendum in June, which could finally lead to a British exit from the European Union, the education industry is likely to suffer. Post-referendum cracks have already started to emerge. There is less number of foreign students’ enrolling for courses in the United Kingdom. Sarah Cooper, the incoming chief executive of English UK, the national association for accredited language centers, said that there has been a significant drop in bookings this year.

The education has already been suffering even before Brexit, due to a high cost of living in the UK, but still students used to pour in from all around the globe due to its welcoming cosmopolitan structure but now the referendum is clearly threatening to take away that tag. The damage to the education industry, which is valued at £1.2 billion pound annually, is likely to be in millions.

The only silver lining is that due to the drop in the sterling exchange rate, overall cost has come down.