Almost 40% of the £3.4bn generated by The University of Oxford’s knowledge exchange activities occurred outside the south east of England, a report by London Economics reveals.
This is just part of a total contribution of £15.7bn to the UK economy in 2018/19, the report adds.
The report analysed the economic impact of the University of Oxford on the UK economy, focusing on the 2018/19 financial year. Specifically, the analysis captures the economic impact of:
- The University’s research and knowledge exchange activities at £7.9bn
- The University’s teaching and learning activities at £422m
- The University’s educational exports at £732m
- The spending of the University and its colleges at £6bn
- The University’s contribution to tourism at £611m
Professor Patrick Grant, Pro-Vice-Chancellor for Research and SES board member, says: “This analysis provides compelling evidence that our research-intensive universities are key contributors to the prosperity of the United Kingdom.
“Every pound invested in our universities, which bring together world-class research and outstanding teaching, has the power to transform our economy and our society. As we continue to recover from the coronavirus pandemic and carve out our position in a post-Brexit world, it serves as a reminder of the growing role of universities in our country’s future.”
You can read the University of Oxford’s press release on the university website.