Education providers are increasingly being asked to demonstrate the role they play in their community, and also the return that stakeholders receive for their investments. Yet whilst anecdotal evidence is fine, up to a point, when it comes to proving its economic impact, there is no substitute for robust, data-driven evidence.
Emsi have been conducting Economic Impact Studies for almost 15 years, with over 100 in the UK alone, and our research has consistently shown that education providers add huge value to their immediate business community, to the lives of learners, and to society as a whole.
- Learners benefit from higher lifetime earnings
- Society benefits from avoided social costs
- Taxpayers benefit from an expanded tax base
- Local businesses benefit from increased consumer spending
- Local employers benefit from a more productive local workforce.
If your institution has never done an Economic Impact Study before, you might ask the question, “what are the benefits of doing one?” If your institution has done one before, you might ask the question, “How can we use our results to greater effect?” If your institution did a study several years ago, you might ask the question, “Would there be any value in refreshing our results?”
To answer these questions, we have just put together a short report, which you can download here or by clicking on the image above. We are also going to be running a webinar on Thursday 13th October, where one of our economists, Sterling Smith, will be going into more detail about the what, how and why of Economic Impact Studies. The session will last around 45 minutes, which will include time for questions. If you would like to join us for this, you can register here.