Economic

The Group of Eight (Go8) activities have given rise to unprecedented collaboration and cooperation among Australia’s leading universities, the results of which manifest themselves in an array of social, cultural and economic developments that, directly or indirectly, benefit Australia, the region and the world. This section contains information on those contributions.

14 Aug 2018Media Releases and Statements

Australia’s Group of Eight universities contributed $66.4 billion to the national economy in a single year through the flow on effects of their research, graduates, international students and employment, a new report has found. The report from London Economics also reveals that for every $1 spent on research, around $10 came back in benefits to the private sector. It found that for every person employed in Go8 universities, 2.4 jobs were created in the broader community and that for every three international students studying at a Go8 institution, there was $1 million flow on effects in the...

14 Aug 2018Leaders' Statements

National Press Club Address Professor Ian Jacobs, Chair Group of Eight Good afternoon ladies and gentlemen. I want to start by acknowledging that we stand on the land of the Ngunnawal people, and pay my respects to them as the traditional custodians of the land and to their elders past and present. My thanks to the National Press Club for this invitation. It is a privilege to be here to deliver my address titled: “Australia’s hidden asset: Universities are the New Wealth of Nations” I do so in my capacity as Chair of the Group of Eight universities, but I want to emphasise that we see our...

29 Apr 2014
Policy Papers
business

Universities play a central role in Australia’s innovation system and support the business sector, and individual firms, in many direct and indirect ways.  Universities provide Australia with a continuing supply of highly educated graduates, knowledgeable about the most recent developments in their disciplines and able to apply their expertise, understanding and skills within the particular circumstances of their employment.  Universities are also major generators of the new knowledge which advances understanding and, through its integration with complementary expertise and existing practic

15 Apr 2014
Policy Papers
international students

The scale of the Australian education export market is well above what might be expected when considering the size of our population and economy. Australia is the third most popular destination for international students, attracting nearly seven per cent of the world’s international students. Nearly 300 thousand international students will commence study in Australia in 2014, the majority of which will be in higher education. This $15 billion industry is Australia’s fourth largest export, following just iron ore, coal and gold.

8 Apr 2014
Policy Papers
skilled graduates

Absent a sustained increase in Australia’s birth rate or a rapid increase in net migration, there are few mechanisms available to policy makers to maintain income growth outside of those that target productivity growth. As Australia moves closer to the frontiers of economic performance, our progress will depend more and more on our capacity as a society to invent, innovate and adapt. This means that investing in skills will be an increasingly important factor to improving productivity in Australia.

1 Apr 2013
Policy Papers

Anyone observing the world in which they live can see how the outputs of research improve our life, work and environment. Some people believe that if governments invest specifically in research designed to produce immediately useful outcomes, it could ensure an even higher return on government investment.