| Practice area: | Education and Labour Markets |
|---|---|
| Client: | University of Birmingham |
| Published: | June, 2024 |
| Keywords: | economics of education higher education 2024 Public Policy |
London Economics were commissioned to assess the economic, social and cultural impact of the University of Birmingham to the United Kingdom.
The total economic impact on the UK economy associated with the University of Birmingham’s activities in the 2021-22 academic year was estimated at approximately £4.4 billion. Of this total:
- The University of Birmingham’s research and knowledge exchange activities accounted for £1.4 billion (32%) of this impact;
- The value of the University of Birmingham’s teaching and learning activities stood at £1.3 billion (31%);
- The impact associated with the University of Birmingham’s international students was estimated at £690 million (16%);
- The impact generated by the operating and capital expenditures of the University stood at £908 million (21%); and
- The impact of tourism activities associated with the University was estimated at £46 million (1%).
In terms of the number of FTE jobs supported, the results indicate that the total impact generated by the University’s activities supported a total of 19,885 FTE jobs across the UK economy in the 2021-22 academic year, of which 13,295 were located in the West Midlands.
Compared to the University’s total relevant operational costs of approximately £769 million in 2021-22, the total impact of the University of Birmingham’s activities on the UK economy was estimated at £4.4 billion, which corresponds to a benefit to cost ratio of approximately 5.7:1.
The report is available here, with an associated executive summary and press release available here and here.