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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 Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û economy.Â
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We commissioned London Economics to assess the impact of the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û higher education sector on the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û economy, focusing on the 2021–22 academic year.
This report sets out the economic impact that the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û higher education sector has on the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û economy, focusing on the jobs it supports, the economic outputs it brings and the gross value added to regions and nations across the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û.Â
Watch: how do universities benefit local businesses?
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 £130 billion contribution to the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û economy.
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There is a huge economic benefit to a variety of sectors across the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û including; government, health and education which has an economic output of £52.8 billion and supports 444,244 jobs.Â
University reports on economic impact
Many universities have commissioned and published their own research into their economic impact, which have different timescales and methodologies. We've listed some recent reports.