Arc Universities

A report, conducted by London Economics, has shown that for every £1 invested in the University of Oxford’s research and knowledge exchange activities, £10.3 for the UK economy is generated. The report analysed the economic impact of the university on the economy in the 2018/19 financial year.

The main findings of the report showed the economic impact of:

  • The university’s research and exchange activities at £7.9 billion
  • The university’s teaching and learning activities at £422 million
  • The university’s educational exports at £732 million
  • The spending of the university and its colleges at £6 billion
  • The university’s contribution to tourism at £611 million

The economic impact of Oxford’s research and knowledge exchange activities was estimated at £7.9 billion and these activities supported more than 28,000 full time jobs. This includes a £4.5 billion impact of the University’s research activities on the UK economy. 

In addition, £3.4 billion was generated by impacts associated with the University’s licensing of its intellectual property (IP) to other organisations, the operations of spinout companies whose activities are based on the University’s IP, and the activities of companies located at the Begbroke and Oxford Science Parks.

The £3.4 billion generated by the University’s knowledge exchange activities in collaboration with UK businesses benefitted the whole of the UK and across multiple sectors. 

Almost 40 per cent (£1.3 billion) occurred outside the South East of England, including in London (£482 million, 14 per cent), the East of England (£134 million, 4 per cent), the North West (£110 million, 3 per cent), the West Midlands (£106 million, 3 per cent), and the South West (£103 million, 3 per cent).

Professor Louise Richardson, Vice-Chancellor of the University of Oxford, said: 

“While these figures represent only one way of considering the ultimately inestimable value of what we do, they are a raw index of the power of our work as researchers, teachers and communicators to benefit society locally, regionally, nationally and internationally.”

Professor Patrick Grant, Pro-Vice-Chancellor for Research at the University of Oxford, added: 

‘This analysis provides compelling evidence that our research-intensive universities are key contributors to the prosperity of the United Kingdom. Every pound invested in our universities, which bring together world-class research and outstanding teaching, has the power to transform our economy and our society.”

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