The study, which surveyed 2,031 people in April, found that nearly half (47%) thought that the pub is their most valued local amenity.
It was closely followed by the traditional newsagent (45%), and the local grocery store (36%).
Despite concerns over the health of independent local businesses in the UK, the findings reveal that consumers say they are spending an average of £88 per week in local stores and businesses. Santander said this adds up to £217.7bn a year– nearly double that of the UK internet economy.
Santander Business Banking managing director Robin Foale said: “In the current economic climate, confidence among local businesses owners is still quite low. However, this research highlights how local businesses remain a relevant and integral part of any community.
“People clearly value their local amenities, spending an average of £88 per week within a 15 minute walk of their house. There are still a huge number of opportunities for business owners and we are committed to supporting them as they look to develop and expand their companies.”