The impact of universities on the UK economy 

The impact of universities on the UK economy 
Date: 3 Apr 2014
Size: 32 pages (975 KB)
Format: Hard Copy; Download 
ISBN: 978-1-84036-304-3 
Subject/s:
  • Economic impact of universities

Type:
  • Reports
  • Infographics


Description:
This report examines the higher education sector’s contribution to the UK economy in the academic year 2011–12, the latest for which figures were available at the time this research was commissioned. The report provides new figures following a similar study in 2009.


Economic Impact of Higher Education Institutions

Economic Impact of International Students

The report highlights universities’ increasingly significant impact on the economy in terms of output, contribution to GDP, job creation, and overseas investment. It also estimates the economic activity generated elsewhere in the economy through the knock-on effects of expenditure by universities, their staff, and international students.

The report finds that in 2011–12, the UK higher education sector:

• generated over £73 billion of output – up 24% from £59 billion in 2009
• contributed 2.8% of UK GDP in 2011 – up from 2.3% in 2007
• generated 2.7% of all UK employment and 757,268 full-time-equivalent jobs
• generated £10.7 billion of export earnings for the UK
• received less than half its income from public sources

This UK-wide report is accompanied by a suite of nine reports which examine the impact of universities on the economies of the English regions, and a series of infographics summarising the main findings.

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