Billions generated by Edinburgh Uni dwarfs money raised by 2014 games
The University of Edinburgh has generated 10 times as much money for the UK economy as the 2014 Commonwealth Games did, according to research
The University of Edinburgh has generated 10 times as much money for the UK economy as the 2014 Commonwealth Games did, according to research.
A report into Scotland's largest university's economic and social impact found that the institution generates £7.52 billion per year for the economy compared with £740 million over seven years created by the Glasgow-hosted sporting event.
The independent study also found the university supports more than 32,760 jobs across the UK with its start-up and spin-out companies estimated to be worth a total of £162 million.
The report reviewed the university's impact from a diverse range of activity including research, entrepreneurship, teaching and educational exports in the 2021-22 academic year.
Professor Sir Peter Mathieson, Edinburgh University principal and vice-chancellor, said: "As a world-leading centre of academic excellence, we aim to make a significant, sustainable and socially responsible contribution to Scotland, the UK and the world.
"This study strongly indicates the hugely important economic role that the University of Edinburgh plays within Scotland and beyond.
"We have more than 400 years of excellence behind us, but we're not done yet.
"Working together, we can make the next 400 years even better."
First Minister Humza Yousaf said: "The University of Edinburgh and the wider higher education sector are key partners in economic transformation and innovation, with the National Strategy for Economic Transformation (NSET) aiming to deliver a more prosperous, more productive and more internationally competitive economy.
"We recognise that universities are uniquely placed to deliver across all of the programmes of action within the NSET - utilising their teaching, skills development, with a focus on access and inclusion, research, innovation and international reach.
"Our higher education sector is a major success story for Scotland - and the University of Edinburgh's delivery of world class research and innovation is a key part of this success."