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Oxford University's economic impact

Published on: 12/06/2017

A study from from the University of Oxford:

The University of Oxford contributes around £5.8 billion to the UK economy, and supports more than 50,000 full time jobs. Globally, the impact is £7.1 billion.

A study carried out by BiGGAR Economics – Economic Impact of the University of Oxford – measured the University’s impact regionally, nationally and globally. It considers the impact of a range of University activities, including:

  • core spending. including staff spending (contributing £2.2 billion a year nationally)
  • student spending, work and volunteering (£80 million)
  • commercialisation of Oxford University research (£320 million)
  • partnership with business and industry, including our science parks (£439 million)
  • tourism and cultural contribution (£58 million)
  • Oxford University Press (£383 million)
  • additional graduate earnings (£432 million)
  • contribution to health (£1.8 billion)

Overall, the report found that every £1 of University income returns £3.30 to the wider UK economy.

The University is also an important regional contributor, adding £2.3bn a year to the Oxfordshire economy and supporting 33,700 jobs in the county.

“This report provides evidence for something long known around Oxford: the university drives the economy, both locally and nationally, as well as having a significant international presence. We provide jobs, attract investment and conduct globally recognized research that improves the lives of the people of Oxfordshire and of the United Kingdom. We are a global institution deeply rooted in a vibrant local community and can be an engine of the British economy into the future.”
The Vice-Chancellor of the University of Oxford, Professor Louise Richardson

Download the full report here.

https://www.ox.ac.uk/about/facts-and-figures/economic-impact?wssl=1

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