The economic impact of universities
For those who are sceptical about the capacity of universities to make a difference to the economy, a study has just been published that, in the British context, puts this into figures. The report, The Impact of Universities on the UK Economy, is published by Universities UK and is based on research conducted by a team working in the University of Strathclyde.
The key finding of the study is that universities annually contribute £59 billion to the UK economy; that would be the equivalent of £7 billion in Ireland, if the contribution of Irish universities were on average the same as that of British ones. The study also shows the contribution universities make as employers and investors on local communities, and their contribution to exports.
There are still people who claim not to have evidence of the significance of universities to the national well-being and to trade and business. This report gives strong (if UK-based) support to the idea that the existence of strong universities is one of the key mechanisms for securing sustainable economic growth. In Ireland, we need to develop a similar mindset, and fast.Explore posts in the same categories: higher education, university comment below, or link to this permanent URL from your own site.