QUEEN’S CONTRIBUTES £1.9 BILLION TO UK ECONOMY  

 

21 November 2018

Queen’s University makes a significant contribution to Belfast, Northern Ireland and the UK, contributing £1.9 billion to the national economy, according to an independent analysis by London Economics, one of Europe’s leading consultancies.

The research, which looked at the University’s performance during the 2015-16 academic year, showed that the contribution represents an economic benefit to cost ratio of 6:1.

The ‘Economic Impact Report’ found that the University employs 3,700 staff and supports a further 2,570 jobs across the UK.

The report also highlighted that the public purse benefits by an average of £101,000 per each of the University’s 3,800 full-time undergraduate students, who graduate each year.

Commenting on the London Economics findings, President and Vice-Chancellor of Queen’s, Professor Ian Greer, said: “As a global top 200 university, Queen’s University is a place that delivers both local and international impact. This report is a timely reminder of the increasing economic, social and cultural impact of universities.

“Queen’s is an economic powerhouse of innovation and has a vital role to play in generating the knowledge and skills needed to fuel our economy.”

He added: “The report has highlighted that Queen’s contributes £1.9 billion to the UK economy, supports over 6,270 full-time jobs and is committed to working collaboratively.

“By working in partnership we can continue to maximise the unique and positive impact of the University, both locally and globally, to grow the economy.”

In addition, London Economics reported on the impact of the University’s teaching and learning, its research activities and overseas students.  

Key findings in these areas suggested:

• Every eight international Queen’s undergraduates create £1m of economic impact, based on £129,000 spend per student throughout their studies
• Every £1m invested in research activity at Queen’s generates an additional £3.9m across the UK economy
• Queen’s teaching and learning produces over £400m in tax income for the UK Exchequer, while £400m in earnings is generated by the University’s graduates.

 

A summary of the key findings from the report are available to download here.

Media enquiries to Emma Gallagher, Acting Communications Manager, Queen’s University Belfast, tel: +44 (0)28 9097 3091.

 

Back to Main News

 

 

 

 

 

 

   

           

Top of Page