GLASGOW University is worth more than £4.4 billion to the economy of the UK, a new report has shown.
The independent report entitled World Changing Glasgow: Our Economic Impact report also found that the University’s influence was growing – its total contribution being up 14% on the previous three years.
The breakdown of the impact showed that research stood at £1.8bn, 42% of the total, and operating and capital expenditures equalled £1.2bn (27%). Teaching and learning accounted for £734 million (17%) and the remaining 14% (£631m) was associated with the University’s educational exports.
London Economics, which carried out independent analysis of data from 2018/19, also found that for every £1m it spends, Glasgow University generates a further £5.8m elsewhere in the UK economy.
Professor Sir Anton Muscatelli, principal and vice-chancellor of the University of Glasgow said: “This report is significant in demonstrating the broader economic contribution and value of the University of Glasgow’s research, teaching and collaborations with industry in the city, Scotland and the rest of the UK.
“Universities in and of themselves are drivers of economic development. This report illustrates we are not only providing the innovative solutions and excellent research needed to tackle the challenges facing society, but we’re also key facilitators of Scotland’s economic and social recovery, productivity and inclusive growth.”
Finance Secretary Kate Forbes said: “This report lays out in great detail the tremendous economic and cultural significance of the University of Glasgow, in Glasgow itself, in the West of Scotland, nationally and indeed internationally.
“For almost 600 years the University of Glasgow has been a beacon of research and learning and its role today, in education; and its positive economic impact are as important as they ever were in helping Glasgow flourish.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel