Lincoln
October 7, 2020 4.50 pm

Lincoln loses out on £19m due to COVID-19 keeping students away

Key industries across the city impacted

Lincoln businesses missed out on up to £19 million of income as a result of students not being in the city due to COVID-19, according to new data.

Research by Studee shows which cities across the UK have been most financially affected in the last six months by the lack of students in the area due to coronavirus lockdown.

While Lincoln doesn’t feature in the top 20 for cities worst affected, it has still missed out on an estimated £19.7 million that would’ve otherwise been spent by students since lockdown began.

Lincoln’s food takeaways are believed to have lost up to £3 million of income, while £2.5 million wasn’t spent on socialising and going out.

Over £9 million has been estimated to be missed in the form of groceries, while the transport industry was affected too with a predicted £1.6 million loss.

Many students have been learning remotely throughout lockdown, but the new financial year may see a boost in these figures due to restrictions being eased from what they were in March.

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