University of Bath generates over half a billion pounds for local economy
During the 2023/24 academic year, the University of Bath contributed over half a billion pounds to the local economy in Bath & North East Somerset, and supported more than 7,000 jobs, many in the retail, accommodation, transport and leisure sectors, according to a new report from Oxford Economics.
The consultancy said the more than 20,000 students moving to the local area to study at the University spent an estimated £230 million across the local economy, approximately £11,400 each. Student spending supported more than 2,300 local jobs, with spending by international students, who make up just over a quarter of the student body, supporting 880 of those jobs.
“This report highlights the significant economic and social value the University delivers, working in partnership with our city and region, by supporting jobs, attracting investment and generating wider opportunities,” said Vice-Chancellor and President Phil Taylor.
“Recent activity such as the launch of The Brunel Centre and being selected as one of twelve UK universities to be awarded the Government’s Global Talent Fund show how the University’s partnerships can help to attract world-class talent and deliver high-impact innovation that benefits our city and region. We really want to build on these foundations to help Bath & North East Somerset reach its full potential in the years ahead,” he added.
In its report – The Economic Impact of the University of Bath – Oxford Economics assessed the impact of the University through GVA – gross value added, the value of goods and services produced by the local, regional and national economy. This includes the direct impact of the activity generated by the University itself, the indirect impact through supply chains and procuring goods and services from external suppliers, the effect of spending by those employed by the University and in the supply chain, and spending by students and visitors.
In Bath & North East Somerset in 2023/24, the University generated £510 million of GVA, almost 9 percent of the GVA of the area. The report said the University supported 7,100 jobs locally, including 3,900 of its direct employees, accounting for more than six percent of all jobs in the local workforce. It is the second largest employer in the City.
Through its activities, the University spent £16 million on procuring goods and services from local businesses, many of which also benefited from the visitors attracted to the area by the University. Oxford Economics estimated that visitors to resident students, and attendees at graduation ceremonies and open days spent £9 million across businesses in Bath & North East Somerset. In 2023/24, more than 8,000 prospective students attended open days at the University.
One such firm is Pattersons, based in south Bristol, which has been supplying the University with cleaning and janitorial products for several years. As a family-run business with deep roots in the South West, they greatly value the longstanding relationship with the University.
Craig Banwell, Key Account Manager at Pattersons, said, “We’re proud to support the University of Bath with reliable, responsive service and sustainable cleaning solutions. As a local family business, our partnership with the University allows us to grow alongside one of the region’s most respected institutions, while reinvesting in local jobs, supply chains, and environmental practices. We also share a strong commitment to sustainability, and we’re pleased to support the University’s goals with eco-conscious product options and greener operations.”
Beyond its direct impact through jobs and procurement, the University is also driving innovation and creating new companies. For the year studied, the SETsquared Bath Innovation Centre supported 43 high-tech high growth start-up and scale up member companies, which collectively generated £15 m turnover and secured £1.3 million in equity investment and grant funding.
The University supports the local community through public events, volunteering by staff and students, health programmes and giving locals access to world-class sports facilities. The report noted that over 54,000 members of the public attended social, community and cultural events run by the University in 2022/23 – equivalent to more than one in four residents of Bath & North East Somerset.
