The North West retains 76% of the economic impact of its graduates, making it the second best performing region in these terms, according to a recent report.
The report by Million+ found that the North retains a greater proportion of its graduates than London, the South and East of England, therefore demonstrating that the region’s universities contribute strongly to the local economy.
The North East, however, retained the highest number of graduates with 80% staying in the region, while Yorkshire/Humberside retains 67%, The East Midlands 60%, and the West Midlands 70%.
In contrast, the report found that the economic impact of graduates who studied in London is far more widespread, with only 43% of graduates staying there after studies with the remainder distributed across the rest of England, especially the South and East.
The East of England however retains even less at just 41%, while the South East retains slightly healthier numbers at 49%.
The report titled ‘Smarter Regions, Smarter Britain: Boosting Regional Growth through Universities’ tracked students who had graduated in 2011-12 to see where they were employed in England six months later.
Their economic impact was calculated by looking at how much they were earning and the taxes they were paying.
The report advises the government to set targets to raise rates of higher education participation in regions outside London.
Following its findings, the study also recommended that regional universities should be placed at the centre of strategies in order to boost economic growth.
Article adapted from Times Higher Education