The UK’s creative-focused higher education institutions are adding at least £8.4bn to the economy in terms of skills development and by attracting international students.
University of Salford Press Office via flickr.com (CC BY 2.0)
An economic impact study has found that creative-focused colleges and universities generate significant positive impacts in the UK economy.
The study by GuildHE, a representative body for higher education, found creative-focused universities and colleges generate at least £8.4bn each year by meeting the needs of employers for creative, qualified, trained workers.
The calculation of economic impact is based on the estimated value of added skills in the workforce, the higher incomes of students and their employers and the value of international students’ contribution to the UK economy.
The research used data from 15 institutions, 13 of which specialise in the creative arts. The report concludes that “the economic impact of the creative institutions involved [in the research] is considerable – and greater still if extrapolated across all institutions providing courses in these subjects”.
In his foreword to the report, Arts Council England Chief Executive Darren Henley said: “As pressure continues to grow on local authorities’ budgets, at Arts Council England we increasingly regard the university sector as important custodians of art and culture locally, nationally and internationally. They are our key partners in many towns and cities across the country.”
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