Universities contribute to Cornwall

Survey reveals local economy relies heavily on our Universities.

We may not be in the good books of many locals but a recent study claims Universities in Cornwall contribute massively to the economy and no, it’s not just the amount we spend on lash…

Independent economics geeks, Oxford Economics, have studied the effects of local universities on the economy of Cornwall and the Isles of Scilly between 2002 and 2012, showing we’re not all stereotypically stingy students. 

The study reveals that the University of Exeter and Falmouth University, who jointly manage and share the currently developing Penryn Campus, have contributed a whopping £491 million to the local economy.

Turns out pasties aren’t the only source of Cornwall’s money…

Such figures have demonstrated that our economic effect has grown sharply over the past decade, showing an increase of a huge 300% on Cornwall’s Gross Domestic Product (GDP)… Basically, we make them a whole load of money.

Between 2002 and 2012, the contribution made by the universities’ students and employees is significant, with student living expenditure alone contributing £111 million to the local economy, which is hardly surprising with some of the rent prices knocking about.

Also, the number of jobs supported by our campuses have increased by almost 200%, with the universities accounting for 1 in every 155 jobs in the entire county.

So, whilst we may be shamefully vomming outside Mega Kebab in the early hours of the morning, we’re doing our bit for the local economy because we did buy cheesy chips first…