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The higher education sector creates enormous economic impact across the country, by supporting over a quarter of a million jobs and contributing over £130 billion pounds to the UK economy.
Summary
We commissioned London Economics to assess the impact of the UK higher education sector on the UK economy, focusing on the 2021-22 academic year.
This report sets out the economic impact that the UK higher education sector has on the UK economy, focusing on the jobs it supports, the economic outputs it brings and the gross value added to regions and nations across the UK.
Data at a glance
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Universities support more than three quarters of a million jobs (768,000), of which nearly half (382,500), are indirect, employed by local businesses such as restaurants and retailers who benefit from the economic stimulus universities create.
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Higher education makes a £130bn contribution to the UK economy
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There is a huge economic benefit to a variety of sectors across the UK including; government, health and education which has an economic output of £52.8 billion and supports 444,244 jobs.