Economic Impact Summary (2015)

Royal Holloway has a significant positive impact on the economy, both in Surrey and throughout the UK.

In 2011/12, £351 million was spent throughout the UK due to the existence of Royal Holloway, and 3,718 full time equivalent (FTE) jobs were generated. Of these 3,718 FTE UK jobs generated, Royal Holloway employed 1,440 FTEs and filled a further 114 jobs in Surrey with Royal Holloway graduates.

Applying the current multiplier effect in relation to total economic output to growth projections planned for within the Estate Plan , it is estimated that the total economic output generated by all Royal Holloway operational activities will increase by 20% to £423.6m by 2020/21 and by 37%, (compared to a 2011/12 base) to £483.6m.

The total number of FTE employees generated directly and indirectly by Royal Holloway activities (based upon university staff projections and the application of the current FTE multiplier, suggests that employment opportunities are estimated to increase from the 3,718 figure outline above to 4,067 employees by 2020/21 and to 4,519 employees by 2030/31.

Conservative estimates suggest that, in addition to direct Royal Holloway operational activities, the university’s students spend in the order of £120m annually, £14.2m going to the university for on-campus accommodation costs and £20.2m going to private landlords, the majority of whom will be in the immediate area around the university.

Stripping out housing and tuition fees, the estimated annual spend generated by Royal Holloway’s students in terms of living costs is in the order of £44m. Given the distribution profile of students, it is reasonable to estimate that a large proportion of this spend is made locally within Runnymede, and within Egham and Englefield Green in particular.

Student expenditure locally therefore is considered to add considerable economic value to local shops and services, and would be in addition to the direct economic output generated by annual university activities.

Expenditure generated by visitors to Royal Holloway both on-site, and within the immediate Egham and Englefield Green areas, are considered to have a minor long term positive effect on the underlying viability of existing businesses and suppliers.

The Estate Plan proposals will deliver a programme of phased academic (operational) and student residential construction projects to support the growth aspirations of the university. The proposals seek to not only redress current accommodation deficiencies, but also to meet increased student and staff projections over the Estate Plan period.

The objective of the Estate Plan is therefore to retain and enhance the already strong position the university has within the Higher Education sector. This will enable the university to retain and attract new staff and students of exceptional calibre, increase student accommodation on site and support a balance of uses across the site to meet local needs. The Estate Plan proposals are therefore considered to lead to significant positive, permanent and long term economic benefit to the local, regional and UK economy.

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