A new report highlights the University of Liverpool’s significant economic and wider impacts to both the city region and wider UK.
Being launched this afternoon (Wednesday 25 September 2024), the report reveals the University’s role in driving economic growth, its contribution to local life, high-quality teaching, research excellence and its global impact.
See the report here
Overall, the University of Liverpool’s activities (in 2022/23) are estimated to have generated up to £1.2 billion and 15,870 jobs in the Liverpool City Region (LCR). This equates to a contribution of more than 3% of the total LCR economy and creates 1 in every 50 jobs. At the national level, the impact is up to £2.2 billion and 26,630 jobs.
The University generates an annual income exceeding £675 million, and its major economic influence is a result of its commitment to the local and national economies. From capital spend and supply chain impact to locally based staff and students who spend in the region, it is a layered mix maintaining the University’s position as a key component in the fabric of Liverpool.
Professor Tim Jones, Vice-Chancellor, University of Liverpool said: “The University is a proud and long-standing citizen of this great city, and we’re delighted to celebrate the significant contributions it has made to the Liverpool City region and beyond.
“The University of Liverpool is a remarkable place, that has consistently pursued excellence in education, research, and community impact. The Economic and Wider Impacts Report further contributes to the momentum we’re building towards realising our vision set out in Strategy 2031 of becoming one of the Top 100 universities worldwide.”
Steve Rotheram, Mayor of the Liverpool City Region said: “The University of Liverpool isn’t just one of our great assets—it’s part of the very fabric of our region’s heritage. As the original red brick university, its reputation stretches far beyond our borders, and its ambition to break into the world’s top 100 shows that its ambitions remain undimmed.
“But it’s about far more than just rankings. The University’s impact is felt on the ground, right here in our communities, helping to drive growth, create opportunities, and make sure that the Liverpool City Region is a place where everyone can thrive. We’re proud of our shared past but I know that working together, we’re building a brighter future that leaves no one behind.”
The Economic and Wider Impacts Report comprehensively illustrates the many successes and contributions of the University. Highlights include:
- Education and Experience: Through surveys, students reported notably high satisfaction, with strong endorsement of the University. Importantly graduates of the University benefit from significant wage premiums. For the 2022/23 academic year, this is projected to result in an annual wage uplift of £230.8 million (in 2024/25 prices), highlighting the economic advantages of studying at the University of Liverpool.
- Research Excellence and Knowledge Exchange: The University maintains extensive research collaborations, involving 1,300 external organisations across 40 countries. In 2022/23, research award value amounted to £160.7 million. Furthermore, the University’s knowledge exchange activities, including Intellectual Property licensing and spin-out companies, contribute up to £66 million and 770 jobs across the UK.
- A civic university with a global reputation: The University of Liverpool has an extensive international presence with 322 research projects worldwide and a range of university partnerships in Europe, China, India, Canada and North America. The University is both part of a global community and is proud to host a global community on campus with 7,700 international students and supports a global network of over 270,000 alumni.
AMION Consulting was commissioned to evaluate the University’s current standing, celebrate its achievements, and guide future strategies.
