The Times – It’s not just academic: universities could make a difference to Britain’s exports
I was pleased to come across this article in The Times yesterday setting out the interconnection between higher education and international business. The article draws on observations by Jim O’Neill who came up with the BRICS acronym.
O’Neill criticises the UK for failing to take up business opportunities in Emerging Markets (EMs), and purports British higher education has significant exporting potential that will strengthen the UK’s commercial relations with EMs. O’Neill’s argument is supported by Universities UK who predict that by 2025 universities could add £16.9 billion in revenue to the UK economy.
I think O’Neill is right: British universities, like British businessmen, are being too cautious and as such are hindering the UK’s future impact in EMs. By opening satellite campuses abroad, the UK will strengthen ties with EMs, bringing in significant revenue.