|Sector:||Economics of Education | Education and Labour Markets | Higher education|
|Published:||16 October, 2018|
|Tagged:||2018 higher education impact assessment labour market economics quantitative analysis UK Wales|
London Economics were commission by Cardiff University to estimate their economic and social impact in 2016-17 following two previous pieces of research relating to 2012-13 and 2014-15.
Teaching more than 16,315 first-year students in 2016-17, and employing 5,875 full-time equivalent staff, the total economic impact associated with Cardiff University’s activities across the UK was estimated to be £3,233.1 million.
In terms of the components of economic impact, the value of the University’s teaching and learning activities stands at approximately £1,153.1 million (36% of total), while research activity contributes £708.7 million (22% of total). A further £195.1 million (6%) is associated with the University’s contribution to educational exports. The economic impact associated with the direct, indirect and induced impact from the University’s expenditure and the expenditure of its students was estimated to be £1,176.2 million (36% of total). Based on a number of assumptions on the location of the different strands of impact, we estimated that the total economic impact of Cardiff University on the Welsh economy stood at approximately £2,366.6 million, corresponding to approximately 73% of the total economic benefit generated by the University, while the remaining £866.5 million (27%) was accrued elsewhere across the United Kingdom
The full report is available here.