| Practice area: | Education and Labour Markets |
|---|---|
| Client: | University of York |
| Published: | 19 May, 2025 |
| Keywords: | economics of education higher education 2025 Public Policy |
London Economics were commissioned to assess the economic impact of the University of York’s research, knowledge exchange activities, institutional expenditures, and student expenditures on York and North Yorkshire and the UK, focusing on the 2023-24 academic year.
The total economic impact on the UK economy as a whole associated with the University’s research, knowledge exchange activities, institutional expenditures, and student expenditures in 2023-24 was estimated at approximately £1.78 billion.
Of this total:
- The direct, indirect and induced economic impact of the University’s research and knowledge exchange activities stood at £213 million (12%);
- The economic impact generated by productivity spillovers associated with the University’s research activities stood at £615 million (34%);
- The impact associated with the University’s institutional expenditures stood at £794 million (45%); and
- The impact associated with the expenditures of the University’s international students stood at £161 million (9%).
The total economic impact on York and North Yorkshire’s economy associated with the University’s research, knowledge exchange activities, institutional expenditures, and student expenditures in the 2023-24 academic year was estimated at approximately £980 million.
The analysis suggests that the University’s activities supported a total of 9,795 FTE jobs across the UK economy in the 2023-24 academic year, of which 8,645 FTE jobs were located in York and North Yorkshire.
The report is available here.