11% growth for UK universities’ income streams
The figure is contained in new data released by association body, CUBO
Income from universities’ commercial and campus services rose by 11% in 2019, according to data from association body, CUBO (College and University Business Officers).
“It has been very positive to see a growth in income, especially in light of the Government funding review and Brexit uncertainties,” said CUBO’s vice-chair, Jo Hardman.
Combining income gleaned from residences, catering and conferencing, £796m was made from November 2018-19, an average of £22.7m across 35 institutions.
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Residential fees comprised 64% of total income, with 25% from catering, 7% from conferences and 5% from sport (the latter included in the figures for the first time).
“It is so important for our members to see a breakdown in income streams and build a picture from our survey results of what is happening nationally,” added Hardman.
“Especially in terms of where emphasis is placed on services and potentially where future investment should be going to continually enhance the student and staff experience.”