Full Universities Australia Logo Universities Australia Logo
Study in Australia
  • Home
  • About
    • Who We Are
    • Board
    • Our Staff
    • History
    • Career Opportunities
  • Facts & Publications
    • Student Statistics
    • Staff Statistics
    • University & Funding Statistics
    • Publications
  • Policy & Submissions
    • Submissions
    • Keep it clever
    • Teaching, Learning & Funding
    • Research & Innovation
    • International
    • Diversity & Equity
    • Safety & Wellbeing
    • Health
    • Copyright
  • Campaigns & Projects
  • Our universities
    • University Profiles
    • Teaching Calendar
    • University Contacts
    • University Startup Hubs
    • Student Safety – Contacts
    • 2022 Floods
  • Media
  • Events
  • Contact
Study in Australia
©2022
Site by ED.

Share

  • Facebook
  • Twitter
  • LinkedIn
  • Email
Media Release 3 June 2020

COVID-19 to cost universities $16 billion by 2023

Australia’s universities could lose $16 billion in revenue between now and 2023 according to new modelling by Universities Australia.

Revenue losses for the remainder of 2020 are also likely to increase, now estimated at between $3.1 billion and $4.8 billion. Previously UA had estimated the shortfall at between $3 billion and $4.6 billion.

Universities Australia Chief Executive Catriona Jackson said the new four-year modelling underlines the sustained effect of COVID-19 on university finances, not just in the current year but in the years to come.

“We can’t pretend that won’t have a big impact. Not only does that revenue support the staff and facilities to educate the next generation of skilled workers, it also pays for much of the research and innovation that keeps Australia internationally competitive,” Ms Jackson said.

“If there’s less research on campus we will be less equipped to deal with crises like COVID-19 and bushfires in future.”

“Great Australian researchers have been responsible for so many job-creating, life saving innovations including vaccine for cervical cancer, IVF, soft contact lenses, the bionic ear and spray on skin for burns victims. All the result of Australian university know-how.”

Universities are responsible for undertaking a growing share of the nation’s research—from 24 per cent of Australia’s R&D a decade ago, to 34 per cent in 2017-18.

However, a substantial portion of Australia’s research is in jeopardy, with independent estimates that between $3.3 billion and $3.5 billion of university R&D activity annually could be at risk.

“Until now universities have been increasing their investment in research and innovation. The danger is that if universities are unable to continue funding this activity, Australia’s ability to innovate its way out of the COVID-19 recession will be severely hampered.”

“You can’t have an economic recovery without investing in research and development.”

Ms Jackson said there was a clear link between R&D investment and the new innovations and productivity increases that will be crucial to Australia’s post-pandemic recovery.

“Universities Australia calls on the Federal Government to directly invest in research to ensure Australia emerges in a stronger position after this pandemic,” she said.

Related Media

See All Media
media-item
Media Release
17 August 2022

More university places to skill-up more Australians

Universities Australia welcomes the Government’s allocation of 20,000 additional university places to tackle skill shortages and give more people from under-represented backgrounds the chance to go to university.

Read more
media-item
Media Release
15 August 2022

Mitacs and Universities Australia sign renewed agreement allowing for expanded mobility opportunities

Vancouver, BC – Mitacs and Universities Australia are proud to announce that they have signed a renewed agreement, allowing for expanded research collaborations and mobility opportunities between the two countries.

Read more
media-item
Media Release
15 August 2022

Onshore vaccine manufacturing hub key to Australia’s wellbeing

Today’s announcement by the Prime Minister that an onshore vaccine manufacturing hub will be created at Monash University is critical to advancing Australia’s response to future health outbreaks and strengthening our sovereign capability.

Read more
See All Media
Universities Australia Logo
Study in Australia

Popular Search Terms

  • Business & Community
  • Careers & Staffing
  • Indigenous
  • International
  • Resources & Regulation
  • Quality Assurance
  • Governance
  • Research
  • Students & Teaching
  • Student Income Support
  • Teaching Calendar
©2022
Site by ED.
Universities Australia Logo
Study in Australia

Sign up

  • This field is for validation purposes and should be left unchanged.
©2022
Site by ED.
Universities Australia Logo


Australian Aboriginal Flag Flag of the Torres Strait Islanders

Quick Links

  • Home
  • About
  • Facts & Publications
  • Policy & Submissions
  • Campaigns & Projects
  • Our universities
  • Media
  • Events
  • Contact

Get in touch

  • 1 Geils Court
  • Deakin ACT 2600
  • T: +61 2 6285 8100

Follow Us

  • Twitter
  • LinkedIn
  • Facebook
  • Instagram
©2022 - Site by ED.
Legal
Study in Australia
Site Index