Graduation ceremonies boost Sheffield’s economy by £1.45 million
And that’s just Hallam
Olivia ReddingtonWith the fortnight of Hallam graduations recently coming to a close, new research was calculated by academics from the International Business and Economics Research Group (IBERG), within Sheffield Business School, that shows the local economy has been boosted by £1.45 million.
Hallam’s graduation ceremonies take place at Sheffield City Hall, with thousands of family pouring into the city from across the country. These impressive figures not only show that students do, in fact, have a use but also don’t even take into account Sheffield University’s summer graduations.
Top work.
The influx of 25,000 guests paying for hotels, celebratory drinks and lavish meals for the 7,200 students graduating has done wonders for local restaurants and businesses.
These findings were based on previous surveys saying that more than a quarter of people stay the night and almost 70 per cent splash out on a meal in Sheffield centre.
The principle lecturer in international business at Sheffield Business School, Dr. Andrew Johnson, said “For the students who are graduating and their families this is a once in a lifetime experience and they rightfully want to celebrate that”
“We understand the value of the student population to the region but this is the first time we have looked at the numbers and worked out what a significant benefit graduation is the Sheffield economy.”
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