LERU generates €100bn for the European economy

BiGGAR Economics has just published a study on the economic contribution of the League of European Research Universities

This study set out to consider the contribution that the 23 LERU universities, and the research universities sector as a whole, makes to the European economy. The economic contributions in this report are for 2016 and were measured in terms of Gross Value Added (GVA) to the economy and by the number of jobs supported by the organisation.

The key findings from this study are:

Research universities are substantial contributors to European growth and jobs

LERU universities generated a total economic value of €99.8 billion in Gross Value Added and 1.3 million jobs across Europe in 2016.
By extrapolating the findings, it is estimated that the entire European research universities sector contributed over €400 billion GVA (2.7% of the total GVA of the European economy), and supported 5.1 million jobs across Europe (2.2% of all European jobs).

Research and education have a high return on investment

LERU universities generated almost €5 GVA for every €1 of income they received.
Universities are key actors in the European innovation ecosystem
LERU universities generated €33 billion GVA in Europe in 2016 by transferring their research into industry through licenses, spin outs and services to business.

The report was launched in Brussels on the 1st December 2017

Every job directly created by the #LERU #universities supports almost 6 #jobs throughout the European economy. Find out more at https://t.co/EYxzS5GvE3 pic.twitter.com/PjhaEIb0zk
— LERU (@LERUnews) December 1, 2017