BNU plays its part in generating £265bn economic impact from UK higher education activities

Buckinghamshire New University (BNU) is proud to contribute to the total economic impact of the UK’s higher education sector, valued at £265 billion according to new first-of-its-kind data published today by London Economics.

London Economics analysed the impact of the UK higher education sector’s teaching, research, and innovation activities on the UK economy, revealing the 2021-22 academic year’s value as £158 billion. When combined with previous London Economics analysis of the direct spending by the sector and the economic benefit of international students, the total impact across UK HE in 2021/22 was £265 billion.

Compared to the public cost of these activities (£18.54 billion), London Economics found a cost to benefit ratio of 14 to 1: every £1 of public money invested into UK universities generates £14 of economic benefit.

The London Economics report also cites a body of evidence showing the wider benefits of a University education to graduates and society. These include increased work productivity for both the graduates and their co-workers and improved health outcomes.

Professor Nick Braisby, Vice-Chancellor at Buckinghamshire New University, commented: “We welcome today’s timely analysis from London Economics and UUK. Every year, UK Universities generate more than a quarter of a trillion of benefit to the UK economy. At BNU we see the tremendous transformational impact of our education and research activity. As it considers how to address the underfunding of the sector, we call on the government to reflect on the significant return on investment generated by UK Universities.”