The city of Bristol is witnessing a significant economic impact from its burgeoning student population, drawn by prestigious institutions like the University of Bristol and the University of the West of England (UWE). These students are not just enriching the city's culture but also fueling its economy. However, this comes with financial challenges, as the city council is missing out on substantial council tax revenues due to student exemptions.
The influx of students has led to a boom in construction, with new student flats emerging across Bristol. Developers have received approvals for housing projects that sometimes fall below national standards for space and daylight. A notable example is the block of flats under construction on Gas Lane, which received permission for an additional storey despite concerns about inadequate lighting in many rooms. Councillors have highlighted this issue, noting that future residents "would probably be asleep half the day" during weekends.
"The large student population does bring benefits to the city's hospitality sector and night-time economy." – He
The University of Bristol's students significantly contribute to the local economy, generating £318 million in 2022/23 and supporting 5,270 jobs. Similarly, UWE students add over £400 million annually, sustaining more than 3,500 jobs. These students not only bolster the city's financial landscape but also integrate into its social fabric through work, volunteering, and eventually starting businesses and families.
"UWE Bristol and its students contribute more than £400m to the local economy each year, supporting over 3,500 jobs." – A spokesperson from the University of the West of England
"They work and volunteer and many stay in Bristol after they graduate, starting businesses and families." – A spokesperson from the University of Bristol
Despite these economic advantages, Bristol faces a shortfall in council tax revenue due to student exemptions. This year alone, the city council lost £2.6 million. The cumulative impact remains unclear but highlights a broader issue faced by university cities overburdened with student exemptions compared to non-university or rural areas.
"In 2022/23, University of Bristol students and their visitors contributed £318m to the local economy and supported 5,270 jobs across the city." – A spokesperson from the University of Bristol
Local leaders advocate for a government subsidy scheme to alleviate this financial strain on councils with high student populations. Councillor Caroline Gooch emphasized this need, urging for policy changes to support affected local authorities.
"The government should implement a subsidy scheme for local authorities with high student populations." – Councillor Caroline Gooch
