In autumn 2015 we commissioned independent firm Oxford Economics to analyse the economic contribution the University makes to Bath and North East Somerset (B&NES).
Their findings show the University makes a significant economic impact at both national and local level. In B&NES alone, the University contributed £294 million to the local economy during 2014/15, representing 6.2% of the total economic output of the region. During the same period, the value of each additional student to the area was £9,560, further supporting economic growth. The estimated contribution to UK GDP was £352.2 million.
The report estimates that in 2014/15 nearly 5,850 jobs in B&NES were supported by the University, our students and our visitors. The University itself employed 3,031 people in 2014/15 across a broad spectrum of jobs, paying salaries above the national average, making it the second largest employer in the area after the Royal United Hospital. The report highlights the University's track record of providing secure jobs for local employees. One in every 17 jobs in the district was in some way dependent on us.
The report also acknowledges the economic benefits of our research, the activities we provide for local schools and colleges, and how we help start-up businesses to develop and raise funds through investment.