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€100 billion to the Eu economy, the great impact of LERU universities in 2016  

Available online the results of the study commissioned to BiGGAR Economics which quantifies in almost quantifies in a total economic value of €99.8 billion in Gross Value Added and 1.3 million jobs across Europe, the impressive contribution that the 23 LERU universities made to the European economy in 2016.

The BIGGAR Report represents an update of the figures published by LERU in 2015 and provides a telling picture of the significant role that LERU universities play in driving the European economy.

As LERU argued in a paper in 2017, indeed, “societal impact has always been, is and will remain, a core task of universities”.

The new findings show that the entire European research universities sector contributed over €400 billion GVA (2.7% of the total GVA of the European economy), and supported 5.1 million jobs across Europe (2.2% of all European jobs).

The high return of the investments made in the area of research and education is confirmed by the fact that LERU universities generated almost €5 GVA for every €1 of income they received.

LERU universities have proved more and more to be key actors in the European innovation ecosystem: BiGGAR report shows in fact that they generated €33 billion GVA in Europe in 2016 by transferring their research into industry through licenses, spin outs and services to business.

The new report provides a snapshot of the economic contribution of the LERU universities in 2016. The long-term economic impact is, however, much bigger. In addition, it is important to recognise the wider impact (other than economic) that universities have in society, delivering talented graduates and professionals into society and acting as hubs for knowledge production, transfer and exchange.

Prof. Kurt Deketelaere, LERU´s Secretary-General, is thrilled about these figures: “The message is clear. If you want to deliver on growth and jobs, invest in research and universities! If you want a budget focused on results, invest in research and universities! We all need to speak up for research. This report provides sound and convincing economic evidence to support our arguments.”

Download press release and report on LERU’s website