According to CEO of Student Village, Ronen Aires, students are spending more than they did two years ago, but they are "hustling hard" to make money so that they can spend on things they deem as important.
2017 marks the 5th year Student Village have conducted their Student Spend survey and this year they surveyed the spending patterns of 3 249 students.
Aires says the report still shows cellphones as one of the important things to have with Samsung at 50%, followed by Huawei on 15% and iPhone at 11%.
About 85% of the students income still comes form their parents, brothers and sisters and there is also a rise in the gig economy where students do events, promotions and work as bar tenders.
They do all sorts of jobs to make sure they can spend at the level they want to spend because it is important to them.— Ronen Aires, CEO at Student Village
Money buys students experiences plus there is a huge emphasis on looking good.— Ronen Aires, CEO at Student Village
To hear more of this interview, listen below: