Finance

University of Glasgow claims to contribute £4.4 billion to the UK economy



The University of Glasgow claims to have contributed more than £4bn to the UK economy.

Analysis carried out by London Economics found that the university’s influence had grown, with its contribution increasing by 14% on the previous three years.

The report into the economic impact the University of Glasgow brings to the UK economy suggested that 42% of the total was from research – at £1.8bn.

A further 27% came from its operating and capital expenditure, which totalled £1.2bn. Teaching and learning accounted for £734m, at about 17%, with the remaining 14% coming from the university’s educational export – at £631m.

The analysis looked at data from 2018/19, finding that every £1m it spent generated £5.8m elsewhere in the UK economy.

It also found that the university employed more than 8,000 people, making it one of Glasgow’s biggest employers.

The majority of its staff – around 82% – lived within Glasgow, which resulted in them spending wages locally and supporting demands for goods and services.

While 84% of its UK students are from Scotland – and 54% of its Scottish undergraduate students are from the Glasgow city region – students attended from more than 140 different countries.

In fact Glasgow University’s international student population has more than doubled in the past 10 years.

Professor Anton Muscatelli, principal and vice-chancellor at the University of Glasgow, said: “This report is significant in demonstrating the broader economic contribution and value of the University of Glasgow’s research, teaching and collaborations with industry in the city, Scotland and the rest of the UK.

“This report shows that Glasgow is very much at the forefront of several key sectors for the economy- from life sciences and precision medicine to quantum technology, 5G and digital innovations.

“We believe this report indicates how our University can continue to create jobs, drive innovation and growth, and ultimately stimulate Scotland’s recovery now and into the future.”

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