Queen’s University Belfast is worth £1.9 billion a year to the UK economy, an independent analysis by London Economics has revealed.
The research, which relates to the 2015-16 academic year, showed that the economic contribution represents an economic benefit to cost ratio of 6:1.
It also found that Queen’s employs 3,700 staff and supports a further 2,570 jobs across the UK.
The ‘Economic Impact Report’ highlighted that the public purse benefits by an average of £101,000 per each of the university’s full-time undergraduate students, who graduate each year.
“As a global top 200 university, Queen’s University Belfast is a place that delivers both local and international impact,” said the university’s president and vice-chancellor, professor Ian Greer.
“This report is a timely reminder of the increasing economic, social and cultural impact of universities.
“Queen’s is an economic powerhouse of innovation and has a vital role to play in generating the knowledge and skills needed to fuel our economy,” he added.
Other key findings contained in report were:
:: every eight international Queen’s undergraduates create £1 million of economic impact.
:: every £1m invested in research activity at Queen’s generates an additional £3.9m across the UK economy.
Queen’s University’s teaching and learning generates more than £400m in tax income for the Exchequer and £400m in earnings for the university’s graduates.
Professor Greer added: “The report has highlighted that Queen’s University contributes £1.9 billion to the UK economy, supports over 6,270 full-time jobs and is committed to working collaboratively.
“By working in partnership we can continue to maximise the unique and positive impact of the University, both locally and globally, to grow the economy.”