GCU economic impact
Glasgow Caledonian University (GCU) generates economic and social benefits worth £1.7 billion to the global economy while supporting 14,360 jobs, an independent report has found.
A report by BiGGAR Economics shows that in academic year 2020-21 GCU generated an economic contribution of:
- £1.7 billion and 14,360 jobs globally
- £1.4 billion and 14,170 jobs in the UK
- £1.1 billion and 9,760 jobs in Scotland
- £612 million and 5,390 jobs in Glasgow.
For every £1 in income in 2020-21, the University generated £9 Gross Value Added (GVA) in the Scottish economy, £11 GVA in the UK economy and £13 GVA in the global economy.
A like-for-like comparison undertaken by BiGGAR Economics shows GCU’s quantifiable impact has grown in scale by 17% since the last study in academic year 2013-14, due primarily to the growth of its core, its graduate impact and its health and social care impacts and its international reach.
BiGGAR Economics, which has undertaken economic impact studies of more than 200 universities across Europe, suggests that beyond its economic footprint GCU drives a powerful and multi-layered social impact. It builds social capacity through a long-standing commitment to widening access; creates strategic added value in several areas including health and wellbeing, poverty and inequalities, sustainable businesses and environments, and industry, innovation and infrastructure; has an ethos to improve the lives of its students and people in wider society; and is focused on employment-ready graduates and ensuring relevant skills in a changing landscape.
The report notes that GCU “lives its mission to be the University for the Common Good”.
Recognising GCU as an anchor institution, the independent assessment found that the University is a valuable asset to the City of Glasgow, bringing economic and employment opportunities at scale, and working to address the deep-rooted economic, social and health inequalities in the City.
With a Top 70 ranking in the Times Higher Education Global Impact Rankings 2021, the report notes that GCU’s focus on the Sustainable Development Goals is helping to reduce inequalities and support a sustainable economic future at a national and international level.
The report highlights that the University’s specialist research centres and units inform and advise government departments and organisations on policies which are aimed at improving society, the economy and public services at a national and international level.
Academic year 2020-21, on which the findings are based, saw the launch of the University’s ambitious Strategy 2030 which sets a clear vision for GCU as a world leading University for social innovation, committed to its mission For the Common Good. Building on the foundations of Strategy 2030, we will seek to further enhance our economic contribution and social impact in local and global contexts.