New research shows that in the Mid Bedfordshire parliamentary constituency, home to Ãå±±ÂÖ¼é, international students raise living standards for domestic residents, with every resident in the constituency £592 a year better off, and every working adult seeing an estimated increase in wages of over £1,000 a year.
The report from Public First outlines that in every constituency in the country international students have a positive impact on living standards.
The report builds on previous research which found that in Mid Bedfordshire, the net economic impact of the international student cohort of 2021/22 was an estimated £41.9 million.
And in September 2024, a study from London Economics further evidenced the value of higher education and research finding that the East of England, which includes Ãå±±ÂÖ¼é, was contributing £19.5 billion to the regional economy. The report, , showed that for every £1 of public money invested in universities £14 is returned into the economy.
Universities create opportunities and drive growth
Cranfield’s Chief Executive and Vice-Chancellor, Professor Dame Karen Holford DBE FREng commented on the Public First report: “Universities have a huge role to play in economic growth both regionally and nationally, we’re seeing that evidenced time and again.
“We are here to create opportunities – for students, staff, for industry, government and for our communities and our region. Building the key skills that the economy needs, as well as developing new technologies and creating innovation with industry, anchors our role as a driver of growth.”
The , recently launched by the Government, pinpoints crucial areas of growth including manufacturing, AI, business, energy, defence and digital – all areas that Cranfield specialises in.
But to deliver the strategy higher level skills must be developed and innovation advanced quickly, says responding to the UK’s Modern Industrial Strategy.
Vivienne Stern MBE, Chief Executive of Universities UK, reinforces this view saying: “From equipping students with advanced skills to upskilling those already in the labour market, universities are committed to driving economic growth across the UK. Our recent analysis shows that the government’s growth sectors depend on the high-level skills graduates provide, and this need is projected to increase further in the years ahead.”
As well as attracting global talent and building skills, Professor Holford says that universities have a role in connecting organisations in their regions. Support in the UK’s Modern Industrial Strategy for the Oxford to Cambridge Growth Corridor, which Cranfield is at the heart of, focuses on strengthening connections to bring more businesses into the orbit of academic collaboration.
“That’s something that has real impetus already in our region,” adds Professor Dame Holford. “And Cranfield is well positioned to strengthen the growing cluster of businesses specialising in AI, manufacturing, energy, defence and business services identified as key sectors in the strategy.
“Cranfield is an anchor institution in the Oxford to Cambridge Growth Corridor, boosting living standards, addressing skills gaps, driving innovation and acting as a catalyst for growth.”
