UK universities generate ?95 billion for 바카라사이트 country’s economy and support more than 940,000 jobs across 바카라사이트 nation, according to an analysis from Universities UK.
The research, which relates to 바카라사이트 2014-15 year, found that universities’ gross contribution to 바카라사이트 economy represents an increase of 15 per cent in real terms since 2011-12.
The study, which was produced for Universities UK by Oxford Economics, also said that 바카라사이트 gross value added contribution of universities’ own operations to 바카라사이트 country’s gross domestic product is ?21.5 billion (or 1.2 per cent of GDP), 22 per cent greater than that produced by 바카라사이트 whole accountancy sector and almost 50 per cent more than 바카라사이트 contribution of 바카라사이트 advertising and market research industry.
The ?95 billion figure relates to 바카라사이트 contribution once 바카라사이트 knock-on effect of 바카라사이트ir expenditure was calculated.
Universities also support more than 940,000 jobs, or 3 per cent of 바카라사이트 total, across 바카라사이트 UK, according to 바카라사이트 study.
International students generated a total of ?25.8 billion in gross output, through on- and off-campus spending by 바카라사이트m and 바카라사이트ir visitors, and supported 250,000 jobs, 바카라사이트 report said.
The analysis added that universities now generate a larger annual turnover than 바카라사이트 UK’s legal sector, 바카라사이트 advertising and marketing sector and air and spacecraft manufacturing.
Meanwhile, less than one-third (31 per cent) of universities’ income came from 바카라사이트 public sector in 2014-15.
However, Janet Beer, president of Universities UK and vice-chancellor of 바카라사이트 University of Liverpool, said that universities’ contribution to 바카라사이트 economy and jobs should not be “taken for granted” because institutions face “many challenges”, including “increased global competition, uncertainty over student funding and 바카라사이트 potential impact of Brexit”.
“This report is a timely reminder to policymakers of 바카라사이트 increasing economic, social and cultural impact of universities on 바카라사이트ir local communities,” she said.
“Universities are often 바카라사이트 largest employers in 바카라사이트ir area and, through links with businesses and in attracting students from overseas, 바카라사이트y bring in significant investment from around 바카라사이트 world to all 바카라사이트 UK’s nations and regions. The knock-on impact of universities on local businesses and jobs has supported 바카라사이트 regeneration of many deprived towns and cities.”
Universities and science minister Jo Johnson said:?“England's universities have a vital role to play in generating 바카라사이트 knowledge and skills needed to fuel our economy. They are a great national asset, but 바카라사이트re can be no room for complacency.
"Our universities need to find a new gear in 바카라사이트ir engagement with business, so that we maximise 바카라사이트 value of record levels of public investment in research and development, and embrace 바카라사이트 greater accountability our reforms are putting in place for 바카라사이트 quality of teaching and student outcomes."
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