Our economic impact

As a major employer, we create prosperity and drive economic growth both locally and nationally. Our staff and students join us from across the UK and from elsewhere in the world. They live and work in the local area: their expenditure - and ours - supports a range of businesses and services.

In 2018, London Economics - one of Europe’s leading specialist economics and policy consultants - examined some of these benefits in more detail, using figures from the academic year 2016-17. It estimated that the total economic impact of all our activities at York to the UK economy in 2016-17 was over £1.8 billion. 

In May 2024, we integrated the most recent data, updating the previous figures to reflect the latest information.

The estimated total economic impact of all our activities to the UK economy - including teaching and learning; international students; research and knowledge exchange; and University and student expenditure - is £2.7 billion.

Read the 2018 report in full: The economic, social and cultural impact of the University of York (PDF , 2,740kb)

Teaching and learning

Higher education has a transformative effect not just on the student, the graduate, the teacher and the researcher, but also on wider society. The report measures employment, earnings and taxation receipts associated with a higher education qualification.

The Exchequer accrues some 52 per cent of the economic benefit associated with higher education qualification attainment.

This figure includes the amount the government receives in additional taxes to be spent on public services including the NHS, education and welfare.

International

Across the UK, international students make a significant contribution to the economy - currently worth £37.4 billion - and to levelling up.

This contribution has increased in recent years - owing to an increase in the number of international students coming to the UK - with the net economic benefit increasing by 58% since 2015/16 to the 2023/24 figure of £37.4 billion.

According to the Government's own export data, education exports were higher than the UK's overseas sales of either pharmaceuticals or aerospace. 

The benefits of this increase have been felt across the length and breadth of the UK: on average, international students make a £58 million net economic contribution per constituency, equivalent to approximately £560 per citizen - this even includes constituencies without a university, due to the knock-on economic impact.

The picture at York

York’s annual economic contribution from international students in 2022/23 was worth £225m to the city of York and wider region. This figure includes £81.4 million from China, Asia and other non-EU countries.

Research

In 2016/17, York received almost £90m in research funding, and the London Economics report showed that the total contribution of our research activity  for the same period was over £537m: in other words, every £1 invested in our research generated £6 for the UK economy.

In 2023/24, with a research income of £99m, the University's research activity is making a total contribution of £806m to the UK economy.

Regional

We support economic growth throughout the Yorkshire and Humber region by providing jobs and purchasing goods and services.

Of the £702.2m economic impact associated with the University and its students' expenditures, £603.5m occurred in the Yorkshire and Humber region.