Queen’s pumps €1.9bn every year to economy

Queen’s University Belfast contributes £1.9billion to the UK economy each year, an independent research team has revealed.

Carried out by London Economics the report estimates the public purse benefits by an average £101,000 for each of its 3,800 undergraduates.

That figure is based on the enhanced employment and earnings benefits and subsequent tax receipts which a degree from the university can command.

President and Vice-chancellor of Queen’s University Belfast, Professor Ian Greer, said the report is a reminder of the increasing economic, social and cultural impact of universities.

He added: “Queen’s is an economic powerhouse of innovation and has a and globally, to grow the economy.” the research team also revealed further economic contribution comes from through the 3,700 staff along with an estimated 2,570 jobs it supports indirectly.

Teaching and learning generates £400million in tax income and that figure again in earnings for graduates. International students are also a big contributor with every eight creating around £1million of economic impact.

Research activity, meanwhile, brings in not just direct income but the knowledge generated through research activities also increases the productivity of other organisations.

London Economics estimated this to be £3.9milion.