The University of Birmingham contributes £3.5 billion to the UK economy every year – enough to build seven flagship hospitals or 140 new secondary schools, new figures show.
A report published following research carried out by London Economics reveals that the country’s first civic university now supports 15,545 jobs in the West Midlands - almost one in 50 jobs in Birmingham. On a like-for-like basis the University’s economic impact has grown by 59 per cent in the last ten years.
The report, which measured the economic impact of the University on the city of Birmingham and the West Midlands region during the 2014/15 academic year, was launched at the University’s Annual Meeting on 9 March 2017.
London Economics placed the value of the University’s international undergraduate students at more than £160 million in 2014/15. The University’s teaching contributes £1.34 billion to the UK economy, while its research and knowledge transfer activity is worth £885 million, with every £1 million of investment from UK Research Councils generating an additional £12 million to the economy.
Speaking at the University’s Annual Meeting, the Vice-Chancellor of the University of Birmingham, Professor Sir David Eastwood, said: “The £3.5 billion figure clearly demonstrates that the University of Birmingham is not only a major economic force in the region, but also nationally and internationally.
“We are building talent and skills in the region. Almost one in 50 jobs in Birmingham depend on the University. While 24% of our students come from the West Midlands, twice as many stay in the region after graduation. Each year 1,700 doctors, dentists, nurses and other healthcare professionals and leaders complete one of our programmes.
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