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10
Universities creating value, increasing prosperity
The collective N8 universities' output is
£4.1bn and our economic activities generate
an additional £5.2 billion impact in other
industries annually. Of this, the great majority
(£4.8 billion) is spent in the region, making
a total of £8.9 billion impact in the North.
Adding in the regional economic impact of N8
students, the overall impact is £12.2 billion p.a.
The N8 universities’ direct “Gross Value Added” (GVA) in
2014/15 was £2.7 billion in the North. GVA is a measure of the
net change in wealth or prosperity in the economy due to a
company or organisation’s activities. Through ‘knock-on’ effects
on the economy, the N8 universities generate a further £2.4
billion of GVA in other industries, making a total of £5.1 billion.
The national impact of N8 universities equates to 0.33% of
UK GDP.
£2.7 bn
N8 universities direct GVA
£1.5 bn
and student GVA at
£6.6 bn
...giving a GVA of
£2.4 bn
with 'knock on' effects of
Northern GVA
IN TOTAL