UK economy gains £8.4bn from creative unis

Creative-focused universities, colleges and institutions contribute £8.4bn and over 310,000 jobs to the UK economy. A new report into the economic impact of these institutions shines a bright light on the huge contribution they make to the nation’s prosperity – both directly and indirectly, providing highly skilled graduates.

Professor John Last, Vice Chancellor, Norwich University of the Arts and GuildHE Vice Chair, said: “This report provides clear evidence that with a multi-billion pound contribution to the economy, creative industries and the universities and colleges that support them are in an extremely strong position to be significant contributors to the delivery of the Prime Minister’s Industrial Strategy. Research and innovation employers increasingly the value of creativity in their workforce. As the Chancellor makes his Autumn Statement we hope he this too and acknowledges the essential pipeline of creative graduates provided by universities and colleges.”
 
Paul Kirkham, Chief Executive at ICMP and a Director at Guild HE, said: “For over 30 years, ICMP has been developing and delivering innovative courses to students of popular music. We are pleased therefore to see the contribution made by graduates from institutions such as ICMP has been formally recognised by this study. We know that within 6 months of graduating, over 90% of our graduates are in employment or further education and around two-thirds are engaged in music-related jobs or study. The contributions they are making every day to our economic, social and creative sectors is outstanding.”

The report by GuildHE, a higher education representative body – along with ukadia (specialist art and design institutions), and the HEAD Trust working the EMSI economic modelling – also showcases a number of case studies including the computer games industry hub at Abertay University, Dundee and the role of Plymouth College of Art in establishing a creative school, as well the wider cultural contribution of these institutions.