Spanish universities are generating considerably more revenues than it is being invested in, the Ministry of Universities has revealed, with the institutions’ profit accounting for 2.2 per cent of the Gross Domestic Product.
According to a study conducted by the Ministry of Universities, for every €100 of public transfers received, Spanish universities generate €110 of tax revenues, while these public transfers from state and regional transfers have generated €505 in turnover, €293 in GDP and €115 in salary income, SchengenVisaInfo.com reports.
In addition, for €100,000 received, the Spanish public university system (SUPE) has created and maintained around 5.4 full-time jobs. Moreover, it is estimated that 438,926 full-time equivalent jobs, representing 2.41 per cent of the total employment, have been maintained or created due to the revenues generated by SUPE.
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