| Practice area: | Education and Labour Markets | Higher education |
|---|---|
| Client: | Cardiff University |
| Published: | 24 October, 2022 |
| Keywords: | 2022 impact assessment quantitative analysis Wales |
London Economics were commissioned to assess the economic and social impact of Cardiff University in the United Kingdom, focusing on the 2020-21 academic year.
The total economic impact on the UK economy associated with Cardiff University’s activities in 2020-21 was estimated at approximately £3.678 billion. Compared to Cardiff University’s total operational costs of approximately £573 million in 2020-21, this corresponds to a benefit to cost ratio of 6.4:1. This compares to an average benefit-to-cost ratio among Russell Group institutions of approximately 5.5:1 and corresponds to a 6% increase in Cardiff University’s impact since 2016-17 (on a comparable basis, in real terms). In terms of the components of this impact:
- Cardiff University’s research and knowledge exchange activities accounted for £831 million (23%) of this impact;
- The value of Cardiff University’s teaching and learning activities stood at £1,223 million (33%);
- The impact of Cardiff University’s educational exports was estimated at £655 million (18%); and
- The impact generated by the operating and capital spending of Cardiff University stood at £970 million (26%).
The full report is available here.