Glasgow University gives £1.5bn lift to Scottish economy

The University of Glasgow sustains more than £1.5 billion of output in Scotland while helping to underpin almost 15,000 jobs, a study commissioned by the institution has revealed.

Glasgow University tower dominates the skyline above the River Clyde. Picture: Donald MacLeod

The figures have been attributed to the direct impact of the university – founded in the 15th century – plus its students and international visitors.

Published to coincide with a new five-year strategy, called Inspiring People, Changing the World, the economic impact report also highlights ambitious plans for a £775 million redevelopment of the university’s Gilmorehill campus on the site of the old Western Infirmary.

In 2014-15, the university’s income rose to £569m, which included more than £172m from research grants and ­contracts. Its ability to leverage is also documented in the economic report – with ­every £1 of Scottish Government funding generating an additional £8.37 of output.

The university has 300 formal agreements in place with overseas partner institutions.