Manchester's economy booming and growing faster compared to the rest of the UK
If you are a worker, entrepreneur or business owner based in Manchester, there is a lot to smile about. In a time when economic worry is spreading over the UK with Brexit in mind and anxiety is increasing over a potential recession, Manchester appears to be withstanding any UK-wide worries and continues to thrive. Not only is it seemingly unfazed by these concerns, it even appears to be a growing economy.
Manchester City Council has published its annual State of the City Report for 2019 and the signs are promising. The city is aspiring to become one of the best cities for investment, job opportunities and lifestyle in the next years and these results let us know that we are on track.
State of the City Report in Detail
The report in question is divided up into five threads, each of which we can dive into further below.
1. Skilled Workforce
Manchester’s growing economy may have something to do with more London businesses heading north to rehouse their headquarters in Manchester for cheaper running costs. This has also caused more professionals to consider the city for opportunities. You can see just how many current high-skill vacancies are now listed by searching jobs in Manchester.
2. Connectivity
The city is already well-connected on a micro-scale with tram services, trains and buses. It is also well connected internationally with Manchester Airport remaining accessible and serving all five continents.
Where Manchester can improve and intends to do so is in cycling routes and potentially a high-speed HS2 train link to the capital which will channel more economic advantages to the North West.
3. Environmental and Liveable
When a location pledges to be carbon-free by year X, it is often greeted by rolled eyes or scoffs. With Manchester, it is a little different because the city has already surpassed targets in this area. They made a promise to be 42% carbon-free by 2020 but achieved even better results a year earlier. Now Manchester is striving to be completely carbon-free by 2038. Such targets also welcome more innovation and jobs to the area.
4. Thriving and Sustainable
Manchester is showing exceptional retention rates for local graduates. More of the city’s professionals are choosing to remain in Manchester and are thus contributing to a better economy. This can also be seen in the exponential rise in Manchester’s population - which the city is responding to with new environmentally friendly accommodation developments. Simultaneously making the city attractive to buy-to-let investors.
5. Progressive
Manchester is also not shying away from its disparity between different city regions and is working hard to provide fair and favourable services across the board. This includes tackling a homeless problem with the relevant authorities.
The report shows just why you can be proud to be a Mancunian right now and why the city is like a Lancashire hotpot, cooking up more opportunities for local businesses and workers.
