Oxford has been ranked first in an international league table of universities for a fifth year in a row.
It means the UK stands at an all-time low of just two universities in the global top 10.
Experts warned that a “hard Brexit” — combined with the impact of Covid-19 and a loss of international student fee income — could make universities “increasingly vulnerable” with the UK at risk of losing its status as a “higher education superpower”.
Overall, the UK has 29 universities in the top 200, up slightly from 28 last year.
The US claimed a record eight places in the top 10.