| Practice area: | Education and Labour Markets | Higher education |
|---|---|
| Client: | University of Southampton |
| Published: | 02 November, 2022 |
| Keywords: | 2022 impact assessment quantitative analysis |
London Economics were commissioned by the University of Southampton to estimate their economic impact on the UK economy.
The total economic impact on the UK economy associated with the University of Southampton’s activities in 2020-21 was estimated at approximately £4.14 billion. Compared to the University of Southampton’s total operational costs of approximately £561 million in 2020-21, this corresponds to a benefit to cost ratio of 7.4:1. This compares to an average benefit-to-cost ratio among Russell Group institutions of approximately 5.5:1 and corresponds to a 33% increase in the University of Southampton’s impact since 2015-16 (on a comparable basis, in real terms). In terms of the components of this impact:
- The University of Southampton’s research and knowledge exchange activities accounted for £2.07 billion (50%) of this impact;
- The value of the University of Southampton’s teaching and learning activities stood at £682 million (16%);
- The impact of the University of Southampton’s educational exports was estimated at £553 million (13%);
- The impact generated by the operating and capital spending of the University of Southampton stood at £763 million (18%); and
- The remaining £69 million (2%) was associated with the University’s contribution to tourism.
The full report is available here.