A new report has revealed how Dundee University helps support more than 6,700 jobs in the city.
The university – which has about 13,000 students – has been assessed for its economic impact at a local, national and international level.
Bosses say the report – by Biggar Economic – reveals the “enormous” contribution the institution makes.
It found that in the year 2021/22, the university supported:
- £449 million gross value added (GVA) and 6,760 jobs in Dundee
- £507m GVA and 7,270 jobs in the Tay Cities Region
- £975m GVA and 9,410 jobs in Scotland
- £1.5bn GVA and 15,090 jobs in the UK
- £1.6bn GVA and 16,070 jobs globally
It also found that university graduates added £10 to the economy for every £1 of funding provided by the Scottish Government.
University draws ‘significant investment’ to Dundee
Professor Iain Gillespie, principal and vice-chancellor of the university, has set out why the statistics are important.
He said: “This report captures the enormous contribution the Dundee University makes in helping drive our economy locally and nationally.
“We are a major employer and a vital driver of business and innovation, central to Dundee and Scotland’s ambitions.
“We attract students and staff from over 140 countries to the city. The economic impact of that on the local economy is huge, with hundreds of millions of pounds of direct spend here in Dundee.
“Our activities also help to attract significant inward investment to Dundee and Scotland, and create new companies through spinout and commercialisation of our research.
“Our return on public investment is significant, as it is for our fellow universities, and underlines the need for continued, sustainable support for the higher education sector in Scotland and the UK.”
The report suggests Dundee University’s impact has grown in recent years, after a 2016 Fraser of Allander Institute study showed it contributed £740m to the Scottish economy.
The same report also found that 4,000 jobs in Tayside and Fife were supported by the university.
Alison Henderson, CEO of Dundee & Angus Chamber of Commerce, said: “The education sector is a hugely important one for our region, and I’m not at all surprised that the University of Dundee is demonstrating such a huge impact.
“The economic impact in terms of spend, working with local companies in the supply chain and attracting talent to the area cannot be underestimated.
“We are proud to work in partnership with many departments across the university.”
Conversation