Celebrating the economic impact of The Blade on Reading

This year a team of postgraduate students from the University of Reading conducted an economic impact assessment of The Blade. The study aimed to show the financial impact that The Blade has on Reading, over and above the creation of commerce and jobs. The University team asked those working or visiting The Blade to share details of their spending whilst in Reading. The information gathered was then used to calculate an overall picture of the contribution which The Blade is bringing to the region each year.

What economic impact does The Blade have?

The majority of those working or visiting The Blade spent money in a number of ways. This included:

·      Food and drink

·      Transport

·      Leisure

·      Accommodation

·      Memberships, such as gym or swimming

Based on the responses, the total amount of spending which those working or visiting The Blade make amounts to a considerable £101,181 per week, or £5.2million each year.

How was the information collected?

An online survey was used to collect information on how much staff and visitors spent in Reading when they were at The Blade. The survey revealed that resident staff spent significantly more than non‐residents over the course of the year. Although spending by employees was modest on food and drink, more was spent on entertainment, shopping, transport and gym memberships. This contribution is helping stimulate various sectors of Reading's economy. Visitors, on the other hand, revealed higher spending on food, drink and accommodation, contributing directly to local businesses.

The survey also analysed the experience of working or visiting The Blade. A third of respondents awarded 5 stars for The Blade’s services, indicating the highest level of satisfaction.

It’s clear that The Blade has had a significant impact on Reading’s business community, creating a centre for ambitious and growing firms. But it’s a real bonus to understand what else the presence of The Blade is contributing to the local economy.

Our thanks to Professor Giovanni Razzu, Professor of Economics of Public Policy at the University of Reading, and his team of postgraduate students for their help with this project.

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