| Practice area: | Education and Labour Markets |
|---|---|
| Client: | The University of Manchester |
| Published: | 12 February, 2025 |
| Keywords: | economics of education higher education 2025 Public Policy |
London Economics were commissioned to assess the economic and social impact of The University of Manchester to the United Kingdom.
The total economic impact on the UK economy associated with The University of Manchester’s activities in the 2022-23 academic year was estimated at approximately £7.3 billion. Of this total:
- The University of Manchester’s research and knowledge exchange activities accounted for £3.0 billion (42%) of this impact;
- The value of The University of Manchester’s teaching and learning activities stood at £1.6 billion (22%);
- The impact associated with The University of Manchester’s international students was estimated at £1.6 billion (22%);
- The impact generated by the operating and capital expenditures of the University stood at £881 million (12%); and
- The impact of tourism activities associated with the University was estimated at £144 million (2%).
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 31,310 FTE jobs across the UK economy in the 2022-23 academic year, of which 19,050 were located in Greater Manchester.
Compared to the University’s total relevant operational costs of approximately £1.1 billion in 2022-23, the total impact of The University of Manchester’s activities on the UK economy was estimated at £7.3 billion, which corresponds to a benefit to cost ratio of approximately 6.4:1.
The report is available here, with an associated press release available here.