| Practice area: | Education and Labour Markets |
|---|---|
| Client: | The University of Sheffield |
| Published: | 27 March, 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 Sheffield on the local and national economy.
The total economic impact on the UK economy of the University’s activities in the 2022-23 academic year was estimated at approximately £4.82 billion. Of this total:
- The University of Sheffield’s research and knowledge exchange activities accounted for £1.76 billion (37%);
- The value of the University’s teaching and learning activities stood at £1.20 billion (25%);
- The impact associated with the University of Sheffield’s international students was estimated at £1.32 billion (27%); and
- The impact generated by the operating and capital expenditures of the University stood at £539 million (11%).
Compared to the University’s total relevant operational costs of approximately £751 million in 2022-23, the total impact of the University of Sheffield’s activities on the UK economy was estimated at £4.82 billion, which corresponds to a benefit to cost ratio of approximately 6.4:1.
In terms of the number of FTE jobs, the total impact generated by the University’s activities supported a total of 22,990 FTE jobs across the UK economy in the 2022-23 academic year.
In addition to assessing the University’s impact on the UK economy as a whole, it is also possible to estimate the economic impact of a number of strands of the University’s activities on South Yorkshire, and on the Yorkshire and the Humber region as a whole. Approximately 56% of the University of Sheffield’s total impact can be linked to a specific UK region. Almost £1.24 billion (46%) of this identifiable impact accrued in South Yorkshire, with a further £270 million (10%) accrued throughout the rest of Yorkshire and the Humber; and £1.17 billion (44%) throughout the rest of the UK.
The report is available here.