Students boost local economy

**A recent study has revealed that students in Coventry and Warwickshire contribute £245.8 million to the local economy.**

The research was carried out by Santander who surveyed 1,000 students to reveal that on average, students spend £146.10 week, before they pay their rent.

Second year Law student Emma Monteith says that she spends roughly the same amount. She said: “I can see how students positively impact on the local economy – the nightlife and shops really depend on the universities. I think my spending is on par with the study.”

The bank’s research shows that 48 percent of a student’s weekly spend goes towards their accommodation, and the rest is spent on groceries, transport and social activities.

Professor Nigel Thrift, vice-chancellor of University of Warwick, said: “This confirms just how much money is spent by students in the local economy but we should also acknowledge how much time students give to our local communities, helping out in schools, and community projects, and in raising money for good causes.”

Luke Harrison Warwick’s Communications Manager pointed out that the study was not all inclusive.
He said: “The results of this survey reflect what we have always maintained about how the University benefits the local economy.

“There are thousands of our students living off campus in the Coventry and South Warwickshire area, primarily split between Coventry and Leamington Spa, but there are other factors to consider.”

“Our 6,500 students living on campus contribute too, whether shopping on Leamington Parade or nights out in Coventry city centre.”
He also pointed out that the study does not consider the impact of the university staff.