Graduate students attending universities all over the UK are helping to rebalance the UK economy.
That’s according to a new report entitled Smarter Regions, Smarter Britain: Boosting Regional Growth Through Universities.
As reported by Times Higher Education, the reports suggests further investment in higher education will help to stimulate growth outside of London.
This shouldn’t prove to be too difficult, as establishments in the north have a much greater population of students that stay on for graduate studies than places in the south and east of England.
The research was commissioned by Million+, a representative of a number of post-92 universities. It was carried out by London Economics, with the company studying the path of graduates who completed their university course in 2011-12.
If they were working, the study investigated their economic impact on the country in terms of how much they were earning and the taxes they pay.
A remarkable 80 per cent of the economic impact from graduates of universities in the north-east stayed in the region, in comparison to 43 per cent from London graduates in their university city.
Elsewhere, the north-west kept 76 per cent of the economic impact of its graduates, while this stood at 68 per cent in Yorkshire and the Humber, 60 per cent in the East Midlands and 60 per cent in the West Midlands.
These findings suggest that by improving universities in the UK’s regions, these areas will benefit from the economic benefits supplied by recent graduates.
If more students are attracted to these establishments, the local areas will need necessary accommodation to deal with the increasing demand.
Not only will this provide an opportunity for investment in student accommodation, it will also offer an economic boost for regions across the country.
Students are more likely to rent out bespoke properties in their university town or city. Furnished rooms, included mod-cons and excellent transport links are all sought-after by prospective tenants.