University of St Andrews contributes to local economy

The University of St Andrews contributes over £473 million per year to the Scottish economy and supports 6990 jobs, according to the latest economic impact report of a Scottish University by BiGGAR Economics.

BiGGAR Economics has worked with the University of St Andrews over a number of years to track the changes in its impact and help to plan for the future. This study found that Scotland’s oldest university has increased its economic impact by £50.3 million (+12%) between 2014/15 and 2016/17 and is supporting 430 additional jobs.

The report – Economic Impact of the University of St Andrews, 2016/17 – found that for every £1 of public money invested in the University through teaching and research grants, the University returns £11.80 to the Scottish economy. For every £1 of income received from public funds through the Scottish Funding Council (SFC), the University was able to lever in almost £5 of additional income from other sources.

More information can be found on the University of St Andrews website below:

Posted 07.09.18