£40m a year student boost for Leeds as the Merrion Centre becomes "the new Headingley"

However, all of this could be set to change with the area around the city’s Arena Quarter set to welcome a massive influx of new student dwellings.

A spokesperson said: “In reality, this figure is likely to be higher given the wealthy demographics most likely to be attracted to planned high-end accommodation – especially the Vita Student product.”

More than 5,000 residential units, 93 per cent of which have planning approval, will serve the growth in student numbers, particularly from the Far East and Middle Eastern markets, coming to the city.

The growth is being driven primarily by the fact that the University of Leeds was the fastest-growing university in the UK between 2015/16 and 2016/17 – with full-time student numbers growing by over 2,000 in a single year.

Six planned student schemes around TCS’s The Merrion Centre, are being readied to appeal to wealthy international students, notably from China which has seen an 86 per cent growth since 2012/13.

The findings are included in the Student Impact Study, which Cushman & Wakefield has compiled. A total of 48 per cent of all students in the area around The Merrion Centre are from outside the UK, far higher than the 17 per cent average of non-UK students across the city

The number of students at the University of Leeds who are from countries outside of the European Union has grown by 27 per cent since 2011, more than double the national average. A total of 85 per cent of all international students in the city study at the University of Leeds.

The findings are published just a few days after another leading developer said that an increase in city centre living could help transform Leeds into a genuine 24-hour economy.

Bosses at the Caddick Group are pushing ahead with the SoYo development near to the Leeds Playhouse.