international news
No regional barrier to revenue parity
The income of six Australian regional universities is equal to the economic activity produced by the Great Barrier Reef each year, new research shows. The study commissioned by the Regional Universities Network( RUN) – whose members include University of the Sunshine Coast, CQ University, University of Ballarat, University of New England, University of Southern Queensland and Southern Cross University – examined the economic impact and social impact of the universities on the Australian and regional economies. RUN chair David Battersby said the income generated by the regional universities is on par with the yearly revenue generated by the Great Barrier Reef and Australia’ s entire cotton crop.“ The combined GDP and income figures of more than $ 3 billion are equal to all of the economic activity generated by the
Great Barrier Reef each year... [ and ] is also equivalent to the value of Australia’ s entire cotton crop in 2011 / 12.” It found that the universities’ main campuses contributed $ 2.1 billion in gross domestic product, $ 1.2 billion in household income and employed more than 14,000 people in full time jobs. Battersby said the study emphasises the“ enormous” economic and social benefits universities brought to regional areas. It found a large proportion of RUN’ s economic activity directly benefitted the regions in which the universities are located. Overall, RUN’ s major campuses contribute $ 1.7 billion in gross regional product, $ 968 million in household income; and more than 12,000 full-time jobs to the combined economies of the local government areas. The study also shows graduates of regional universities largely embark
on their careers in regional areas, with between 60 and 80 per cent of graduate at various RUN institutions gaining employment in regional areas. Battersby said the report was a“ conservative” estimate of the impact RUN members have on the economy.“ The analysis did not include the impacts of various other campuses, overseas centres or any other operations of the universities including innovation parks or vocational education and training, or assessments of other benefits such as the universities’ role in encouraging people in their regions to undertake higher education,” he said. The study was undertaken by RedeConsult. Professor John Rolfe, an economist and director, Centre for Environmental Management, CQ University, acted as RUN’ s expert adviser to the project.
Regional universities pull their weight
A survey of Queensland’ s RUN universities conducted in the 2011- 12 period reveals that they have collectively contributed more than $ 450 million to the state’ s economy, in addition to increasing the percentage of residents who now have degrees.
Professor Scott Bowman, the vice-chancellor of CQUniversities, said,“ Our regional universities are economic powerhouses, providing energy and momentum to their local economies.”
The survey was commissioned by the RUN network to accurately gauge the contribution each university makes to its local economy.
The results also show that in addition to the contribution to gross regional product, the universities also brought further employment to their respective regions, adding more than 2000 jobs in Rockhampton, Gladstone, Bundaberg and Mackay.
“ It’ s a strong result,” said Bowman.“ It would have been a fantastic result had the survey included our construction projects in Mackay and Rockhampton in the years either side of the survey year.”
www. campusreview. com. au April 2013 | 13