Campus Watch: Research has revealed Cardiff University adds just under £3bn to the UK economy
It comes after London Economics, a policy and economics consultancy, produced and published a report that suggested the university generates £6.36 for every £1 it spends.
With this evidence, the firm went on to calculate that the university made £2,918m in 2014/15, which is an increase of £248m from the previous year.
In addition, the findings also revealed that the money added to the UK economy enables 11,000 people to be employed.
The publication of the report, which analyses the university’s economic and social impact, no doubt offers a helping hand in terms of publicity to the university, who recently unveiled plans for a new £300m Innovation Campus.
Vice-chancellor Professor Colin Riordan stated: “Cardiff University continues to be a key economic and social driver”.
“This year’s update shows a marked increase in our overall economic impact and confirms the role of universities in driving economic growth through high-level skills and ground-breaking research.”