Queen Mary’s economic impact is balanced across its portfolio of activities. Of the £4.4 billion total economic impact, £1.44 billion (33%) came from research and knowledge exchange, teaching and learning accounted for £1.25 billion (28%), and educational exports generated £1.1 billion (25%). This performance is made possible by Queen Mary’s strengths in both research and education and its global outlook.
The report also highlights the value of a Queen Mary degree. A Queen Mary full-time undergraduate degree generates an additional £94,000 in earnings, and a full-time postgraduate taught or research degree between £97,000 and £148,000 in additional earnings. This reflects the quality of the education Queen Mary provides and its ability to empower students with the skills and knowledge to thrive and add value to the workforce of today.
This new London Economics report is published at a time when the value of universities in the UK is being questioned.
The report also highlights Queen Mary’s role in creating jobs and prosperity across London. The report shows that the University’s activities supported jobs across the UK economy, 7930 of which were in London.
Professor Colin Bailey, Queen Mary’s President and Principal, said: “This report demonstrates Queen Mary’s importance to economic prosperity across the country and in London, and shows our leading strengths in both research and education.
“Universities like ours deliver tremendous financial benefits while also providing opportunities for students of all backgrounds, and ensuring anyone with the ability to succeed can do so. We can achieve this because we are embedded within the local and global communities we serve, work closely with businesses of all sizes, and are at the forefront of innovation when it comes to teaching and research.”
Queen Mary drives impactful research and innovation,
and is embedded within its East London community –playing its part in levelling up the area. The East London Genes and Health Project, a longitudinal study of 100,000 people of Bangladeshi and Pakistani ethnicity within the East London community, is paving the way in the identification of genetic determinants to address illnesses affecting these communities. A group of life sciences companies have collectively committed £25 million of new investment to the generation of genetic data and analyses of samples. This collaboration is at the heart of the Whitechapel’s transformation into a global innovation hub, creating jobs, reducing costs to public and private providers, and speeding up new treatments for patients.
