A major new report published today highlights Queen Mary University of London's economic and social impact.
The report from London Economics shows Queen Mary University of London’s financial contribution to the UK economy is £4.4 billion. It shows that for every £1 the University spent in 2021/22, it generated £7 for the UK economy. This ratio is significantly higher than other similar universities.
In 2021/22, Queen Mary contributed a total economic impact of £4.4bn to the UK economy. £1.44bn (33%) came from research and knowledge exchange, £1.25bn (28%) from teaching and learning and £1.1bn (25 per cent) from our educational exports.
The report also highlights the value of a Queen Mary degree. A Queen Mary full-time undergraduate degree generates an additional £94,000 in earnings, and a full-time postgraduate taught or research degree between £97,000 and £148,000 in additional earnings. This reflects the quality of the education Queen Mary provides and its ability to empower students with the skills and knowledge to thrive and add value to the workforce of today.
The report also shows that the University’s activities supported a total of 13,865 jobs across the UK economy, 7930 of which were in London.
Professor Colin Bailey, Queen Mary’s President and Principal, said: “This report demonstrates Queen Mary’s importance to economic prosperity across the country and in London, and shows our leading strengths in both research and education.
“Universities like ours deliver tremendous financial benefits while also providing opportunities for students of all backgrounds, and ensuring anyone with the ability to succeed can do so. We can achieve this because we are embedded within the local and global communities we serve, work closely with businesses of all sizes, and are at the forefront of innovation when it comes to teaching and research.”
Read the full report here: The Economic and Social impact of Queen Mary University of London