Direct economic impact of UAlg in the region in 2018 was 64.3 M €

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The direct economic impact of the University of Algarve (UAlg) in the region in 2018 reached 64.3 million euros, according to a book by João Albino Silva, Rui Nunes and Sérgio Santos that will be released tomorrow, Friday, 18.

"The economic impact of the University of Algarve in the Algarve region" is the title of the publication of the three professors from the Faculty of Economics of UAlg, which will be presented virtually on Friday, at 18:00, the university said in a statement.

The session will be attended by the authors, the UAlg rector, Paulo Águas, the president of the Algarve Regional Coordination and Development Commission (CCDR), José Apolinário, and the president of the Algarve regional delegation of the Order of Economists, Luís Coelho .

The book talks about the impact that UAlg had on the Algarve economy and what the direct and indirect effects are as a result of the expenses incurred by the University and by its entire academic community focusing on the last 40 years.

According to the book, “in the 2018 calendar year, the direct economic impact of the University of Algarve on the regional economy, namely that resulting from the application of UAlg budget allocations and the expenses of its academic community in the economic development of the region, was approximately 64 , 3 million euros ”.

Also according to the publication, this direct impact resulted in a total economic impact of around 80.6 million euros and, consequently, a multiplier effect of 1.25.

Regarding employment, it is estimated that more than 2,200 jobs may be, directly or indirectly, dependent on UAlg.

“But the financial impact of UAlg does not represent the fundamental effect of this Institution at the regional level. No less important is his contribution to the increase of human capital, through the higher education he teaches, endowing the region and the country with qualified human resources in the most diverse areas of knowledge ”, points out the Algarve academy, in a statement.

Paulo Águas, in the preface to the book, writes: “For many, there is an Algarve before the University of the Algarve and an Algarve after the University of the Algarve. Among all residents in the region, there is a feeling that the University adds value, contributing to the scientific, technological, cultural, economic and social development of the Algarve. ”

The session will be broadcast online on the YouTube Channel and the UAlg website and will not have an audience to attend in person.

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