A new study by Regeneris and Urban Foresight has highlighted how the contribution of Newcastle University has added £1.1 billion to the North East economy.
With more than 27,500 students and 5,780 staff, Newcastle University is the fourth largest employer in the North East and generates an annual income of £475 million.
Overseas students alone have put £115 million into the economy and the university’s supply chain spending supports 1,800 jobs, most of which are in the North East.
It is estimated that university students spend around £240 million in the local economy and other boosts include spends of approximately £17 million from visits by students’ friends and family.
Professor Chris Day, the university’s vice-chancellor, believes that Newcastle University’s global presence is making a big difference. He said: “Today, even though we have grown in scale and diversity, and are now operating on a truly global stage, with campuses in London, Malaysia and Singapore, we continue to have a profound impact on the city of Newcastle and the North East of England.”