Huge economic contribution of universities in South West revealed in new research
Universities in the South West of England contribute £9.2 billion* to the economy and support 85,000 jobs** across the region, new findings by Frontier Economics have revealed.
In terms of GDP, the higher education sector in the South West has contributed £5.3 billion over five years.
The research was commissioned by Universities UK (UUK), which represents 140 universities in England, Scotland, Wales and Northern Ireland and is led by UWE Bristol Vice-Chancellor Professor Steve West.
The publication of the research findings falls just ahead of the official deadline for submitting evidence to the government’s Comprehensive Spending Review [CSR] on 30 September.
As well as direct employment, the research found that universities support jobs through their purchases of services and goods from other sectors and through employee spending power. Universities also attract substantial numbers of international students, and visitor spending associated with international students runs in the hundreds of millions.
This significant economic impact runs alongside the huge contribution universities make to the economy through life-changing research and educating tomorrow’s workforce, including public sector workers. A predicted 191,000 nurses, 84,000 medical specialists and 188,000 teachers will train at UK universities over the next five years, the research findings showed.
Shining a light on the powerful impact of universities in those regions that the government is targeting in its “levelling up” programme, figures show that from the jobs universities support in the North East (32,000) to the overall contribution universities make to the economy in the West Midlands (£8.6 billion) to the East of England (£9.4 billion), the positive impact of universities is felt in every region.
UUK’s submission to the CSR will include the following recommendations to government:
- Sustainable funding: maintain the available spend per student to make sure the quality of education is not compromised and ensure the premium for supporting those from disadvantaged backgrounds is maintained.
- Research: maintain the UK’s position as a global research and development superpower, recommitting to spending 2.4% of GDP on research and development alongside the associated commitment to £22 billion in public investment in research and development by 2024/25.
- Developing the Lifelong Loan Entitlement: support a broader group of people to benefit from higher education by growing new initiatives such as pilots offering access to modular “bite-size” learning opportunities, and removing the qualification rules which can be a barrier for mature learners, those in work and those looking to upskill.
- Supporting transformation: providing targeted funding for the most innovative projects aiming to achieve sector-led change, such as supporting collaborations which increase course provision to better meet local skills needs and support levelling-up.
Professor West was elected as President of UUK following a ballot of its members in March. He took up the role in August and will hold the post for two years.
Professor West said: “Universities have been celebrated for being front and centre in the fight against coronavirus, but it is also important to recognise the livelihoods they support through creating and supporting jobs and businesses across the country.
“The economic and cultural contribution of our universities is vast and benefits communities across all parts of the UK. Universities can be central to speeding up the UK’s recovery from the pandemic.
“Now is the time for government to capitalise on the strength of our world-class universities, working with us to ensure universities have the right funding environment to drive economic growth, create new jobs and improve opportunities for people of all ages and backgrounds.”
*This is a measure which refers to the revenue generated in the economy including intermediate inputs from other industries used in the process of producing the gross output.
**Frontier Economics has updated previous estimates with the most up to date information on university employment, revenue and spending, which at the time of the analysis was carried out was HESA data from 2018-2019.
Related news
22 November 2024
UWE Bristol professor unveils blue plaque honouring Bristol’s Cary Grant
Dr Charlotte Crofts joined Historic England to unveil a blue plaque celebrating the Hollywood star.
21 November 2024
Crypto-trader training platform among eight graduate businesses to receive funding boost
A platform that trains people to trade cryptocurrency safely is one of eight graduate businesses to have received funding through UWE Bristol’s Entrepreneurial Futures Award.
20 November 2024
Innovative university-business partnership to power economic growth and devolution for the West of England
A new centre created by the University of Bath with UWE Bristol and Futures West will pioneer new approaches to economic research and data analysis for the West of England.
15 November 2024
Global body confidence education project supported by UWE Bristol reaches 20 year milestone
A global initiative supported by UWE Bristol to build body confidence and self-esteem for the next generation of young people has celebrated its 20th anniversary.
15 November 2024
Grasslands project led by UWE Bristol academic to support UK’s bid for net zero emissions
A UWE Bristol researcher will lead a £4.7 million project focused on the management of UK’s grasslands aimed at supporting efforts to achieve net zero emissions by 2050.
14 November 2024
Highly sustainable student accommodation honoured with national climate action award
UWE Bristol has won the 2030 Climate Action award at the 2024 Green Gown Awards for its highly sustainable student accommodation, Purdown View.
12 November 2024
UWE Bristol to help inspire next generation of young people into green careers
UWE Bristol will play a key role in a new programme to educate more than 10,000 young people in the West of England about green skills and help them explore eco-friendly careers.
11 November 2024
UWE Bristol alum wins at TIGA UK Games Education Awards 2024
Kieran De Sousa, a UWE Bristol BSc (Hons) Games Technology graduate, has won a top video game industry award.
06 November 2024
Join Co-op Group CEO Shirine Khoury-Haq in conversation at UWE Bristol event
The Bristol Distinguished Address Series (BDAS) continues this autumn, with Co-op Group's CEO and UWE Bristol alum Shirine Khoury-Haq.
05 November 2024
Researchers are turning soil sounds into songs
When David Attenborough said saving the planet is now a communications challenge, he probably wasn’t thinking about the possibility of DJs doing soil sets.
25 October 2024
Families urged to open their hearts and homes to Project Zulu choir
People local to the Bristol area are being asked to volunteer as a host family for next year’s Project Zulu choir tour.
22 October 2024
‘Life changing’ prosthetic leg developed at UWE Bristol to be trialled at global competition
Researchers from UWE Bristol are preparing to showcase an advanced bio-inspired prosthetic leg they have developed to improve the quality of life for people with above-knee amputations.