Colleges Worth £15bn To Scottish Economy

Scottish colleges contribute nearly £15bn pounds to the economy.

Educated workforces benefit the country through increased earnings and employer benefits, in turn creating new businesses and reinvesting their cash. 

Taxpayers are said to receive £5.70 in benefits for every £1 spent on colleges throughout Scotland, while learners themselves will pocket £6.30 in future higher wages in return for every £1 spent on their college education. 

In addition, the colleges sector employs over 10,000 full-time equivalent staff and has a large direct and indirect impact on the Scottish and UK economy.

Shona Struthers, Chief Executive of Colleges Scotland, said: "Colleges play a huge role in creating our future workforce. This report pinpoints the economic benefits that the sector contributes through increased earnings and employer benefits, ploughing money back into the economy and creating new businesses. 

"The fact that the sector’s economic productivity is equivalent to 8.8% of the total economic output of Scotland highlights the scale of its importance to the nation. In order for this to be sustained, it is vital that investment into the sector continues and that both society and businesses recognise the benefits that colleges bring."