Plymouth Students Contribute £300 Million to Plymouth's Economy a Year - In Rent Alone

Posted by Ross Jones-Morris in ,

These days it seems like every time a student accommodation block hits the planning offices it faces a huge local backlash, often before it's even given permission to build.

Many of the protest groups dissent on solid ground, but there are of course some which are simply reactionary. These groups often cite students as negatively contributing to the environment in their city, or talk of how new student accommodation blocks and the businesses that cater to them 'take over' a given area, leaving non-students alienated in their own neighbourhoods.

A new study from Plymouth business Clever Student Lets (in conjunction with Santander Bank) has at least found that whatever the objections of the locals, students definitely pull their weight financially.

The study (which focused on Plymouth only, but seems very representative of other student cities) found that Plymouth students contribute over £300 million to the Plymouth economy in rents alone. More specifically the study found that the 31,654 students living in rented accommodation in the city spend £33,951,103 on average, every week throughout the academic year. This totals a contribution of £306 million a year.

Image courtesy of Flickr, Creative Commons