UCL’s annual economic impact comparable to London 2012 Olympics

UCL's Portico - UCL Portico with art installation Razzle Dazzle - redacted CIA documents from the FOIA archives, hidden by camouflage - by UCL Slade School of Fine Art student Emily Lazerwitz, 2016. Courtesy of Mat Wright UCL's annual impact of £9.9bn across the UK economy is comparable to the trade boost delivered by the London 2012 Olympics, finds a new independent report into the university's economic and social impact. The report captures the important role that UCL has in training the future workforce to navigate and prosper in a changing world, addressing global challenges through research and innovation and attracting international students to study in the UK. Led by policy and economics consultancy London Economics, the report reviewed UCL's impact from a diverse range of activity including research, entrepreneurship, teaching and educational exports in the 2018-19 academic year. It found that every pound spent by UCL produced £5.90 in economic benefit across the UK, which is a 12% increase in UCL's impact since 2015-16. It shows how we are supporting the economy and contributing to the 'levelling up' agenda by creating 19,000 full-time jobs across the UK (of which 7,400 were outside London) and promoting economic growth by investing £3bn through our supply chain. Just over a third of this impact occurs outside of London.