A review of the economic and social value produced through funding PhD students
April 2024
This report explores the extensive impacts of PhD study, from enhancing university operations to spillover benefits for society, industry, and personal development. It emphasises the civic role of universities, particularly in relation to place-based strategies and industry relationships. With over £3bn funded into PhD study in 2022/23 by UK Research and Innovation, the report highlights the significant returns for individuals, the Exchequer, and university-industry collaborations. It shares findings from a rapid evidence review on the economic and social impacts of PhDs, advocating for the importance of PhD study within a wider civic mission.
Authors: Johannes Read, Alice Pugh, George Bramley and Rebecca Riley
Find out more about City-REDI's work with the National Civic Impact Accelerator.