It is estimated that the local economy benefits by more than £120m a year as a direct result of student spending at local shops, pubs, clubs and other businesses. And just a week into the new term, the impact is already being felt.

"I've certainly noticed a difference – since the students returned last week I'd say my business and general trade were up by 15%," says Richard Mills, who runs the Walnut Club Champagne bar and grill in Ecclesall Road, and the city centre restaurant at Crystal in Carver Street.

And the boost has a knock-on effect on the rest of the city, he believes, with a noticeable step-up in the number of older customers, too. "I've seen a real transformation since the arrival of students last week – we've got a vibrant city again. It's all about atmosphere and they have a massive effect on consumer confidence."

As two of Sheffield's biggest employers, the universities also have an impact on job opportunities and the property market.

Students play a vital role within the local workforce, taking on jobs to support their studies. And many are around for much longer than just the duration of their course: more than 30% stay on in the city after graduation.

They also do their bit for the community through Sheffield Volunteering, which encourages students to play a part in city life through charity and community work.

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