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Cardiff University provides £2.7 billion economic boost

Published: Thursday, 15 October 2015   Category: All Graduate Jobs News

Cardiff University contributes a whopping £2.7 billion to Britain’s economy, meaning the institution generates more than £6 for every £1 it spends.

A report from London Economics provides a unique insight into the social and economic impacts that the university has on UK markets.

It focuses on figures from 2012-13 and follows on from a study from earlier in 2015 that revealed the economic contribution of the university and its students’ expenditure to be close to £1 billion.

The wider social impacts are also explored in the report as it identifies between direct and induced impacts on the economy. 

Some 75%, or slightly more than £2 billion, benefits the Welsh economy, of which around £967m comes directly from the university’s learning and teaching.

A further £609m results from research activity while £135m is generated from overseas students.

Some 5,500 people are directly employed by Cardiff University while the institution supports a further 5,900 jobs.

Vice-chancellor Professor Colin Riordan said the report looks at the “full picture” for the first time before adding that it highlights Cardiff’s positon as a “key economic and social driver”.

“The role of universities in underpinning economic growth through higher-level skills and ground-breaking research could not be clearer,” he said.

Plans for a £300 million innovation campus are already in place at the university which will enhance its economic contribution further.

The report also revealed that graduates from Cardiff has access to improved employment opportunities and benefits in the labour market.  

This is a major boost to graduates and to current students as they should have more opportunities purely as a result of studying in Cardiff.

The voluntary work carried out via Student Volunteering Cardiff was also highlighted in the report, as there were more than 1,200 opportunities in 2012-2013.

Not only does this experience enhance their CV, but it provides the chance for many students to do something that might be a little outside their comfort zone.

Grad Plus has plenty of graduate schemes and internship programmes for those looking to kick-start their careers

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