Ungated Post | 05 Apr 2018
The Economic and Social Impact of the University of Sussex
The University of Sussex contributes £343 million to the annual GDP of Brighton and Hove, plus East and West Sussex. Together with its students and visitors, the university supports a total of 5,180 jobs across the region. This report outlines how this economic impact is generated by all elements of the university, before exploring the benefits it delivers to both local and national economies––and society as a whole.
One of the region’s leading employers, the University of Sussex directly employs some 2,390 staff, 87 percent of whom live in the local area. Together with its students and visitors, the University sustains £74.9 million in annual tax revenues, enough to pay the running costs for the East Sussex Fire Authority for almost two years.
But the University’s value extends far beyond its core economic impact. Each year it produces thousands of talented graduates, more than 5,000 in 2016, many of whom go on to work locally and in “socially significant” roles as teachers, social workers and doctors. A notable proportion of the University’s graduates working local do so in professional occupations, including those working in science, research and engineering.
The university also plays a leading role in cutting-edge research. In 2015/16, it attracted £35.6 million in funding for R&D activities that deliver long-term benefits for society at large. Using our input-based model of research impact, we found the future benefits of this research to deliver social and private benefits reaching £154 million gross value added.
Read the full report.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
+1 (646) 503 3052
+65 6850 0110
+44 (0)203 910 8054
Generating ROI with AI: Six capabilities that drive world-class results
Generative AI has taken the business world by storm, with large language models (LLMs)—including OpenAI’s ChatGPT—splashed across the news. And executives aren’t immune to the hype. AI is becoming an ever-larger component of IT budgets, with worldwide spending on AI-centric systems expected to hit $154 billion this year—up 27% over 2022. But will enterprises spend these resources wisely? Our research says yes—if organizations take a disciplined approach.Find Out More
A global research study that details the current state of play on environmental sustainability actions and how data, technology and collaboration will drive the next phase of sustainability in business.Find Out More
Leveraging Technology to Promote Financial Inclusion
Oxford Economics and Red Hat surveyed executives at financial institutions internationally to discover how they are using technology to expand financial inclusion while gaining business benefits.Find Out More