Home news University success worth £100 billion

University success worth £100 billion


Janet Beer

THE success of universities in Brighton should not be taken for granted.

Universities now contribute nearly £100 billion to the UK economy and support 940,000 jobs throughout the UK, new figures reveal.

It shows the University of Brighton and University of Sussex play a key role in the growth of the south east economy.

Universities in the region employ 62,000 people directly and provide knock-on impact in terms of supporting local shops, businesses and letting agents. Some 1.4 per cent of all employment is because of the universities located there.

In terms of annual turnover, universities now generate larger turnover than the UK’s legal sector, the advertising and marketing sector and air and spacecraft manufacturing.

University leaders have, however, warned that this contribution to the economy and jobs should not be taken for granted, as UK universities face increased global competition and uncertainty over Brexit negotiations, and government policy on immigration and tuition fees in England.

Professor Janet Beer, president of Universities UK and vice-chancellor of the University of Liverpool, said: “This study highlights the huge and increasingly significant impact that universities have on the UK economy and jobs.

“This puts the UK’s university sector above many other established sectors in terms of economic impact and regional job creation.

“Universities are often the largest employers in their area and, through links with businesses and in attracting students from overseas, they bring in significant investment from around the world to the south east economy.

“The knock-on impact of universities on local businesses and jobs has supported economic growth in many towns and cities like Brighton.

“While the influence on jobs and the economy is important, universities are fundamentally about transforming students’ lives through education and skills and the production of life-changing research.”

Source: The Argus