More than 800,000 international students, nearly half of them from China, India and South Korea, were enrolled in a U.S. college or university last year, a 7.2% increase over the previous year.

The numbers of U.S. students earning academic credit abroad are on the rise, too, but at a slower rate and on a smaller scale.

Those are among findings of an annual report on international student enrollment, released Monday by the New York-based Institute of International Education, which publishes the data in partnership with the State Department's Bureau of Educational and Cultural Affairs.

Students are traveling in both directions at record levels: The 819,644 international students enrolled in U.S. institutions during the 2012-13 academic year pumped more than $24 billion into the economy, the report says. American students studying abroad increased 3.4%, to an all-time high of 283,332, in 2011-12, the latest year for which those data are available, the report says.

Even so, nearly 70% of international students are concentrated in just 200 of the nation's 4,000 colleges and universities. And fewer than 10% of all U.S. undergraduates will study abroad by the time they graduate, the report shows.

"There is definitely still room for growth on both sides," says Assistant Secretary of State Evan Ryan.

Colleges trying to build an international reputation view it as a way to increase diversity on their campuses — and boost revenue. Foreign students typically pay a higher non-resident tuition at public universities than U.S. students. Overseas, many middle- and upper-income families see a U.S. college degree as a ticket toward success for their child.

Among details in the report:
• China continues to send the most students to the USA, including 235,597 last year, up 21.4% from the year before.
• One of the largest increases, 30.5%, came from Saudi Arabia; its 44,566 students are largely funded by a Saudi government scholarship program.
• Participation by Brazil students increased 20.4%, largely because of a new government scholarship program for undergraduates.
• The University of Southern California, University of Illinois-Urbana-Champaign, Purdue University and New York University each hosted more than 9,000 international students, the most of any campus.
• The United Kingdom hosted the largest number of U.S. students, 34,660 in 2011-12, followed by Italy, Spain and France.
• Japan, which was hit hard by a tsunami in early 2011, saw a rebound in interest among U.S. students. Participation increased 27.8%, to 5,283, in 2011-12 as study-abroad providers resumed programs.
• Nearly 60% of U.S. students who went abroad studied over the summer or for eight weeks or fewer.

The report doesn't count U.S. students who use increasingly popular study options such as volunteer work, research or non-credit internships.

Brian Whalen, president of the Forum on Education Abroad, says a small but growing number of universities are starting to keep track of those experiences.

"Our understanding of educational experiences abroad is expanding, and there are more opportunities for students beyond the traditional study abroad for academic credit," he says.