Students worth '£82bn' to UK economy

Graduates are more than worth the money invested in them, research shows

Students bring more than £80 billion of spending into the British economy, supporting 830,000 jobs, according to new research from the NUS.

In fact, for each pound invested into higher education, graduates return £3.22 of pure profit to the exchequer, over their lifetimes. By comparison, the proposed high speed rail link (HS2) from London to the north is thought to be worth around £1.20 to the economy for every pound spent.

In Scotland, students account for 1.3 per cent of GDP - incredibly, almost four people in every 100 is employed as a result of student spending, over 109,000 in total. 35,000 jobs in Wales are supported directly or indirectly by student spend.

The effect of students on the economy is even more pronounced in individual cities. The University of Birmingham supports a total of 11,800 jobs - 3,000 from student spend alone - generating £460 million, or 2.2 per cent of Birmingham’s economic wealth.

The University of West London meanwhile supports 300 jobs directly in the local area, or 2,000 in total, creating an additional £60.4m.

NUS president Toni Pearce believes 'students are instrumental in creating a stronger economy and a fairer, more prosperous society'.

"It’s time that the simple value of students living within a community is recognised," she said. “Every party, every MP, every councillor needs to realise the crucial benefit that student subsistence brings. We know a great deal about the wider benefits that investment in education brings – to both society and the individuals themselves.

“But this report demonstrates the very day to day benefits that students bring to local, regional and national economies and the enormous employment figures that student subsistence supports.”

Graham Randles, managing director of nef consulting, who conducted the research, said: "The more subtle message of our report is that the economic impact of students is especially important in those parts of the country where the arrival of a new wave of young people each year provides a stimulus to regional economies. This is particularly the case in the less prosperous regions of the country where students can play an irreplaceable role in supporting economic activity and jobs."

Read the full report here

Arts and Entertainment
tv'Jingle Bells' quickstep on Strictly Come Dancing's Christmas Special
News
peopleIt seems you can't silence Katie Hopkins, even on Christmas Day...
Arts and Entertainment
Wolf (Nathan McMullen), Ian (Dan Starky), The Doctor (Peter Capaldi), Clara (Jenna Coleman), Santa Claus (Nick Frost) in the Doctor Who Christmas Special (BBC/Photographer: David Venni)
tvOur review of the Doctor Who Christmas Special
Arts and Entertainment
Left to right: Stanley Tucci, Sophie Grabol and Christopher Eccleston in ‘Fortitude’
tvSo Sky Atlantic arrived in Iceland to film their new and supposedly snow-bound series 'Fortitude'...
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
iJobs Job Widget
iJobs Student

Ashdown Group: 1st Line IT Support - Surrey - £24,000

£20000 - £24000 per annum + training: Ashdown Group: Graduate IT Support Helpd...

Recruitment Genius: Graduate Audit Assistant

£19000 - £21000 per annum: Recruitment Genius: Audit Graduate Opportunities ar...

Guru Careers: Graduate Marketing Analyst / Online Marketing Exec (SEO / PPC)

£18 - 24k (DOE): Guru Careers: A Graduate Marketing Analyst / Online Marketing...

FDM Group: Business and Technical IT Consultants – London, Manchester, Glasgow

21,000-24,000: FDM Group: Kick-start your career and join FDM’s award-winning ...

Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

Isis in Iraq: Yazidi girls killing themselves to escape rape and imprisonment by militants

'Jilan killed herself in the bathroom. She cut her wrists and hanged herself'

Yazidi girls killing themselves to escape rape and imprisonment
Ed Balls interview: 'If I think about the deficit when I'm playing the piano, it all goes wrong'

Ed Balls interview

'If I think about the deficit when I'm playing the piano, it all goes wrong'
He's behind you, dude!

US stars in UK panto

From David Hasselhoff to Jerry Hall
Grace Dent's Christmas Quiz: What are you – a festive curmudgeon or top of the tree?

Grace Dent's Christmas Quiz

What are you – a festive curmudgeon or top of the tree?
Nasa planning to build cloud cities in airships above Venus

Nasa planning to build cloud cities in airships above Venus

Planet’s surface is inhospitable to humans but 30 miles above it is almost perfect
Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

Clocks, rifles, swords, frogmen’s uniforms

Surrounded by high-rise flats is a little house filled with Lebanon’s history
Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

Four months after the bombardment, Gaza’s wounds are yet to heal

Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
Gastric surgery: Is it really the answer to the UK's obesity epidemic?

Is gastric surgery really the answer to the UK's obesity epidemic?

Critics argue that it’s crazy to operate on healthy people just to stop them eating
Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

Homeless Veterans appeal: Christmas charity auction

Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
Pantomime rings the changes to welcome autistic theatre-goers

Autism-friendly theatre

Pantomime leads the pack in quest to welcome all
The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there