FOREIGN students at the University of Chester spend about £267,000 a year across the city high street bank Santander claim.
According to research carried out for Santander, who have branches on Foregate Street and Bridge Street, the university’s 180 foreign students spend on average £93 a week on shopping, bars, restaurants and travel, totalling about £267,000 a year.
Luis Juste, UK director of Santander Universities, said: “The UK is renowned for the quality of its higher education and the number of EU and non-EU students has risen by between 5% and 9% respectively in the past year.
“Foreign students should be viewed as an opportunity, not a threat, and I believe they are a key element in the UK’s economic recovery as well as a key support to our higher education institutions now and in the future.”
It is thought the fall in the value of sterling has boosted the spending power of foreign students.
For example, those from the US who are finishing their degrees this year, have an extra 25% to spend on luxury items compared to when they started in 2007.
The research also found female foreign students spend slightly more than their male counterparts, at £95 rather than £91 each week.
As part of its global Santander Universities network, Santander recently announced a £3.75m investment in higher education in the UK.
“Foreign students from Latin America and Continental Europe represent a major source of funding for UK higher education which has traditionally focused upon the English speaking education markets of the US, India and China,” added Luis Juste.