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The Impact of universities on UK economy

Universities UK. The Impact of universities on UK economy. Universities UK. April 2014. Pages: 32

The higher education sector generated an estimated GBP 10.7 billion of export earnings for the UK in 2011–12 from the 435 235 international students who were studying in the country at the time. ‘International’ in the study refers to all non-UK students, both EU and non-EU. Out of this, GBP 3.8 billion was from expenditure on fees and accommodation from non-EU students, and a further GBP 3.4 billion was from expenditure on goods and services bought off-campus by non-EU students. Higher education generated in the same year significant employment opportunities, accounting for 2.7% of all UK employment, up from 2.6% in 2007. This was equivalent to 757 268 full-time jobs.

These are some of the findings of a recent report by Universities UK on the impact of universities on the UK economy. The study included 162 universities and colleges in Higher Education Statistics Agency data for the academic year 2011-12. All the institutions examined belong to the ‘not-for-profit’ entities which receive core funding from public resources.