'Oban: A University Town'
How students can benefit Oban’s economy
It is almost a year since the Oban: A University Town (OaUT) project had its first article in The Oban Times, introducing the project and plans for coming years.
Over the year we have had articles highlighting project partners, student profiles and updates to help keep readers informed. We have also looked at the aspirations of young people in Oban and it has been extremely encouraging to spend time with high school pupils, as well as students coming into the area about why they have chosen to move to the region.
As we now look to the year ahead, it is always important to remember, and reflect on, our core message: Oban is already a University Town. The project team and partners will continue to highlight the wide range of opportunities that are available for further and higher education in and around Oban.
As a University Town, there is significant benefit to the local economy, both in terms of the direct financial benefits as well as wider impacts in the town and surrounding area. In 2017-2018, just over 1,000 students were registered in Oban studying above SCQF Level 6. Not included in this number are the additional student residential visits and the number of students working at the hospital and businesses in the town. It is difficult to put an exact figure on the economic benefit, but based on similar studies from elsewhere in the UK, we estimate that it is over £8 million per year in direct benefit alone such as rent, shopping and transport. This calculation is based only on fulltime students at around 45 per cent of the total student body and does not include benefits from tuition fees and employment within Oban organisations, or the considerable income generated from part-time students through accommodation and spend in the town.
The HE and FE institutions in Oban also employ around 300 people between them, which is considerable in relation to the size of Oban’s population. The OaUT project partners have recently reviewed these student numbers and the economic benefits, and have looked at planned growth for each of the institutions in Oban. Based on current projections, it is hoped that within the next 10 years the number of full-time and parttime students will grow to 1,700 with direct employment then at more than 500 and contributing at least £14 million to the local economy. This is a significant benefit to the town and is an important contribution to Oban’s growth and economic resilience in coming years. At the beginning of the project we looked at standard definitions of a University Town, and one of the key points was that students and institutions are part of the fabric of the town or city. Based on the facts and figures that have come out in the past year, it is clear now that Oban is already a University Town and the student body is having a real impact on the local economy. In the coming year the project team will be working both to increase the economic benefit to the area and to ensure students have a fantastic experience during their time here.
With a busy year planned for 2019 and a lot of activity already under way, there will be regular updates to follow. For more information please see the project website www. obanunitown.org or feel free to contact the team directly at any time. #loveobanlovelearning