The University of Bath is contributing hundreds of millions of pounds a year to the Bath and North East Somerset economy, according to a new report.
The institution is also supporting thousands of jobs - many in the retail, accommodation, transport and leisure sectors - the research by Oxford Economics found.
In its report – The Economic Impact of the University of Bath - Oxford Economics assessed the impact of the university through gross value added (GVA), the value of goods and services produced by an economy.
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It included the direct impact of activity generated by the university itself; the indirect impact through supply chains and procuring goods and services from external suppliers; the effect of spending by those employed by the university and in the supply chain; and spending by students and visitors.
In Bath and North East Somerset in 2023-24, the university generated £510m of GVA, almost nine percent of the GVA of the area. The report said the university supported 7,100 jobs locally, including 3,900 of its direct employees, accounting for more than six percent of all jobs in the local workforce. It is the second largest employer in the city.
The consultancy said the more than 20,000 students moving to the local area to study at the university spent an estimated £230m across the local economy, or approximately £11,400 each.
Student spending supported more than 2,300 local jobs, with spending by international students, who make up just over a quarter of the student body, supporting 880 roles.
“This report highlights the significant economic and social value the University delivers, working in partnership with our city and region, by supporting jobs, attracting investment and generating wider opportunities,” said vice-chancellor and president Phil Taylor.
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“Recent activity such as the launch of The Brunel Centre and being selected as one of 12 海角视频 universities to be awarded the Government’s Global Talent Fund show how the University's partnerships can help to attract world-class talent and deliver high-impact innovation that benefits our city and region."
Through its activities, the university spent £16m on procuring goods and services from local businesses, many of which also benefited from the visitors attracted to the area by the university, the report said.
Oxford Economics estimated that visitors to resident students, and attendees at graduation ceremonies and open days, spent £9m across businesses in Bath and North East Somerset over the year.
One such firm to benefit is family-run business Pattersons, based in south Bristol, which has been supplying the university with cleaning and janitorial products for several years.
“As a local family business, our partnership with the university allows us to grow alongside one of the region’s most respected institutions, while reinvesting in local jobs, supply chains, and environmental practices," said Craig Banwell of Pattersons.