Colleges and universities are constantly developing innovative spaces for the future generation of students and researchers. The changes are much needed for teaching and research to remain relevant. Even though there are still much changes to be carried out across the sector, a report by the Oxford Economics for Universities UK (UUK) revealed that a potential difficult student period ahead due to a decline youth population and Brexit can possibly lead to a fall in international student numbers.
The falling student numbers coupled with diminishing surpluses, falling cash levels may have detrimental effects, particularly for universities where income and costs are not increasing concurrently. Additionally, universities will have to be really mindful about the size of their resources so that they are able to match the demands of staff and students. The uncertainty of Brexit also has a significant impact on the higher education sector as it can potentially hinder the process for overseas students to study in the UK. Driving efficiency, reducing costs, enhancing of service and commercial income from the estate will be crucial towards the sustainability of many universities.
University estate these days is often the central hub for communities, developing a range of economic and social opportunities and benefits. It is also used for residential accommodation to space for start-up companies, enterprise space and collaboration spaces with business and companies. Universities will constantly advance and stay relevant to the evolving changes and provide excellence in facilities and education.
Source: University Business
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