The University of Barcelona generates a collective economic impact of € 6,42 in the European economy per every received euro
On Friday, December 1, the second report “Economic contribution of the LERU universities”, created with data from 2016, by the independent consultancy BiGGAR Economics at the request of the League of European Research Universities (LERU), which gathers 23 European research-intensive universities, among which is the University of Barcelona -was presented in Brussels.
On Friday, December 1, the second report “Economic contribution of the LERU universities”, created with data from 2016, by the independent consultancy BiGGAR Economics at the request of the League of European Research Universities (LERU), which gathers 23 European research-intensive universities, among which is the University of Barcelona -was presented in Brussels.
Impact of the UB in the Spanish and European economies
According to the study, the presence of the UB in Spain, gathers figures of about € 2,300 million GVA, compared to the € 1,700 million stated in the report which was published in 2015 (out of the 2014 data). That is, the contribution of the UB in the Spanish economy, between 2014 and 2016, has increased by € 600 million GVA. Regarding employability, the impact in the Spanish economy went from 26,540 job vacancies in 2014, to 39,300, with an impact increase of 12,760 job vacancies. Also, regarding the thorough study of the UB in 2014, approximately three quarts of the UB impact are centered in the Catalan economy.
In Europe, the impact of the University of Barcelona increased by € 2,600 million in 2016, compared to the € 1,800 million in 2014, with an increase of € 800 million. Contribution regarding jobs also went from 29,650 in 2014 to 40,800 in 2016, which involves a growth of 11,150 jobs with a higher impact in the European economy.
Regarding the contribution per each received euro, in 2016, the UB generated a collective impact of €6,42 GVA in Europe per each euro it received, and 5,23 jobs were created for each person who has directly hired by the University. Therefore, “the UB has increased €1,45 its economic impact, regarding GVA, compared to the 2014 report. This proves what was stated in other recent reports such as the report by ACUP, which highlight the positive impact and the transfer to society on the investment in the university, both regarding economics and employability”, says the rector of the UB, Joan Elias.
Growing impact of the LERU universities
Between 2014 and 2016, the economic contribution of the LERU universities increased by a €28,600 million GVA. Although there are several factors responsible for this growth, the largest contribution was the increase in size and scale of the LERU universities (including the fact that LERU has now two new members compared to 2014). The LERU universities do not only strongly contribute to the European economy but they also increase their contribution every year.
Professor Deketelaere, the secretary-general of LERU, is thrilled about these figures, and stated that “the message is clear. If you want to deliver on growth and jobs, invest in research and universities. If you want a budget focused on results, invest in research and universities. We all need to speak up for research. This report provides sound and convincing economic evidence to support our arguments”.
According to the study, the twenty-three LERU universities have contributed with €99,800 million GVA in 2016, compared to the €71,200 million in 2014, with a growth of €28.600 million. Regarding employment, the European universities have an impact of 1,3 million jobs created in Europe, compared to those 900,065 in 2014, with an increase of 400,000 jobs.
By extrapolating these findings, it is estimated that the whole European university system would contribute with €400,000 million GVA, which is around the 2,7% of the European economy. In addition, the European universities would contribute to 5,1 million jobs, which account for a 2,2% of the jobs in Europe.
To evaluate the economic value of the LERU universities, five theme areas have been analysed: contributions due the activity of the university, such as staff expenses and capital; contributions related to the students during their academic studies, and afterwards, during the development of their professional career; knowledge transfer (including contract research, consultancy, patent and knowledge patents, collaborative research, creation of spin-out and start-up companies, and the functioning of the science and technological parks created in the university); contribution to tourist activity, and the benefits resulting from having studied a bachelor degree.