Santa Barbara Ranked as Economically Vulnerable College Town Due to COVID-19
By edhat staff
Santa Barbara has been ranked in the top 15 list of college towns that are most economically vulnerable during the COVID-19 pandemic.
The study by Smart Asset highlighted locations that are most dependent on the presence and spending habits of undergraduate populations. They compared 95 college towns with populations of 50,000 or more across six metrics.
Santa Barbara was ranked 13th citing that 26.36% of the population is due to college students with 10.13% of the workforce due to students.
"We looked at students as a percentage of the population, college staff as a percentage of workers, as well as four other metrics focused on local businesses’ reliance on college student and parent/guardian spending – concentration of restaurants & bars, entertainment establishments, bookstores, and hotels," according to Smart Asset.
The key findings were that many midwestern and southern college towns topped the list and small college towns were likely to be hit the hardest.
The top six towns include Bloomington, Indiana; College Station, Texas; Champaign, Illinois; Athens, Georgia; Flagstaff, Arizona; and Davis, California respectively.
The full report can be found here.