GCU generates close to £1bn for UK economy

24 March 2015

GCU generates close to £1bn for UK economy

For every £1 from funding bodies, GCU returns £14.75 to the UK economy

Glasgow Caledonian University (GCU) generates economic and social benefit worth nearly £1billion each year to the UK economy while supporting 14,000 jobs, an independent report has found.

The study also notes that for every £1 from funding bodies, GCU returns £14.75 to the UK economy and £13.13 in Scotland.

The news comes as GCU prepares to launch its 2020 strategy, reinforcing its commitment as a University for the Common Good and building on its position as top modern university in Scotland by research power.

The BiGGAR Economic Impact 2013/14 report shows that:

  • The University contributes £560.6million for the UK economy and when graduate productivity is included, the return to the UK economy rises to £990.2million
  • In Scotland, it generates more than £880million, including the graduate productivity value of £399million
  • In Glasgow, the University generates £492million, including graduate productivity of nearly £250million
  • 14,113 jobs in the UK, 12,437 in Scotland and 6000 in Glasgow are supported by GCU

These figures are expected to rise even further in the coming years as analysts predict the University will strengthen further its position to tackle society’s challenges.

Principal and Vice-Chancellor Professor Pamela Gillies CBE said: “GCU is determined to challenge traditional perceptions of a university, how it works and the impact it has on society. We are proud to have been cited as an example of how a university can create social benefit whilst at the same time contributing significantly to the economy.

“The report particularly noted the global social and economic impact created by our partnerships at home and overseas, including those with the Grameen Caledonian College of Nursing in Bangladesh, with the Mary Robinson Foundation for our contribution towards climate justice, and with the Scottish Ambulance Service.”

GCU’s key role as a driver of health and social care innovation and its success in widening access to higher education were highlighted in the analysis.