More than 750,000 jobs are supported by the UK higher education sector, according to a new report.
Commissioned by Universities UK, the paper found that the sector contributed approximately £116 billion to the UK economy in 2021-22 – £46.1 billion of which was the direct economic impact of the sector.
A further £69.5 billion resulted from the indirect and induced effects throughout the wider economy, through the institutions’ supply chains and their employees’ purchases of goods and services.
Published by London Economics, the report shows that the equivalent of 385,000 full-time staff were directly employed by UK higher education providers in 2021-22, and local businesses such as restaurants and retailers were supported by providers’ activities to employ an additional 382,500 full-time equivalent jobs.
