New report reveals Bristol University contribute over £1 billion to regional economy

The University of Bristol contributed over £1 billion to England’s economy in the 2022/2023 academic year.

A report published by Oxford Economics found that the uni contributed £1.13 billion to the economy in the West of England, and £1.78 billion to the national economy.

Bristol Uni also generated 16,510 jobs in Bristol, equating to 4.9 per cent of the city’s total job roles, as well as 27,220 jobs nationwide.

The report also revealed that the university and its staff paid £127 million in taxes in the same year, generating an overall tax revenue of £359 million.

During the 22/23 year, there were 217 active businesses originating from academic research at the University, known as spinouts. Together, they created a £66 million turnover.

The report states:  “The University contributes to boosting the UK’s productive capacity, or the ‘supply-side’ of the economy, through its leading research, the flow of highly-skilled graduates joining the labour market and facilitating entrepreneurial activity.” 

Oxford Economics predict that by the 2028/29 academic year, the university’s contribution to the economy in Bristol will rise from £1.06 billion to £1.17 billion. Its national contribution will reach £1.95 billion.

This rise will support 18,210 jobs in Bristol and 28,750 across the country.

This positive economic impact is set to increase even further when the university’s Temple Quarter Enterprise Campus opens in 2026.

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Following this report, the University’s Deputy vice-chancellor and Provost, Professor Judith Squires and Pro vice-chancellor for Global Engagement, Professor Michele Acuto, said: “The report demonstrates clearly that we are making a strong contribution to economic growth regionally and nationally, and continue to play a significant civic role in our communities as an employer, as a research institution and as an active contributor to our One City ambition to make Bristol a fair, healthy and sustainable city.”

They also went on to assure that the university will “remain firmer than ever in our determination to continue to provide a positive impact, economically as much as socially.”

Featured Image via Dan Rowley.