September 22, 2018

Survey highlights value of universities to economy

An interesting new study has revealed the success of Britain’s universities, suggesting that they occupy areas of the country seven times larger than Tesco.

The report, collated by the Association of University Directors of Estate (AUDE), also revealed that the total income during 2011-2012 was £27bn – a figure inclusive of student accommodation and tuition fees. News that is sure to interest those currently studying for a degree in finance, it shows that every square metre occupied by universities produces an income of £1,600 a year. Showing the enormous contribution that universities offer to the economy in general and to the property market in particular, Mark Swindlehurst, AUDE chairman, said that a well-run university is vital to helping maximise the experience for students on all levels.

The information also highlighted the huge amounts of funding spent on the creation of new campus buildings, with universities showing capital spending of £1.8bn on academic buildings during 2011-2012.

Image Credit: CJ Isherwood (flickr.com)

This content was written by Rachel Smith. Please feel free to visit my Google+ Profile to read more stories.

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