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Liverpool

Liverpool contributes more than £32 billion to the UK economy, partly driven by the significant number of highly prolific corporations that are headquartered in and around the city. Organisations including B&M Retail, Princes, Yodel Delivery Networks, Home Bargains, Jacob’s Bakery, and Very are all based in Liverpool, while others including Unliver and Typhoo Tea are headquartered in the wider Liverpool City Region, which includes Halton, Knowsley, Sefton, St Helens, and the Wirral.

The number of businesses in Liverpool is continually growing, and even during the height of the global health crisis in 2020, the Liverpool City Region saw more than 14,000 new businesses being registered. The strong business landscape here explains why the Liverpool employment rate, at 74.3%, is remarkably close to the UK average.

As Liverpool’s business ecosystem continues to thrive, projected annual GVA over the next 12 months is expected to grow by 0.6%; a higher percentage than is expected for other locations across the northwest. This figure alone highlights Liverpool’s unique potential.

In the 10 years between 2011 – 2021, Liverpool’s population increased by nearly 20,000, bringing the city population to around 500,000, and the population of the wider Liverpool City Region to over 800,000. This growth has been largely attributed to the rising number of job opportunities in the city, affordable housing, a lower cost of living compared to other UK areas, the rich culture, and friendly atmosphere.

Students account for around 70,000 of Liverpool’s residents. Young people move to the city from all over the UK – and from across the globe – to benefit from Liverpool’s high quality education offerings. The city boasts not one but three major universities: the University of Liverpool, Liverpool Hope University, and Liverpool John Moores University, all of which have campuses in the heart of the Liverpool city centre.

While many students opt to live in the centre, a notable spread has been taking place, with students now expanding into areas such as Wavertree, Kensington, and Sefton Park. These up-and-coming areas are becoming increasingly popular with students, especially as more and more young businesses move into these locations.

Liverpool is a well-connected city, with easy access not only to other destinations within the UK, but internationally, too. Getting to London from Liverpool is already quick and simple, with the direct Liverpool Lime Street – London Euston train taking less than 2.5 hours. However, this is anticipated to drop to just 90 minutes following the completion of the HS2 line, which will connect the north and south.

Liverpool is also served by the Liverpool John Lennon Airport, located just outside the city centre. Today, the airport welcomes more than 5 million passengers per year, but that is expected to increase to almost 12 million per year under plans to expand the terminal and extend the runway, allowing Liverpool to offer more global routes. The project, which is due to be completed by 2050, is expected to bring 4000 extra jobs to the Liverpool City Region and contribute £260 million more to the GVA.

Liverpool’s excellent connections mean that tourism plays a big role in the local economy. With more than 67 million visitors every year, the Liverpool visitor economy is worth nearly £5 billion, and has created more than 57,000 jobs across the region.

With the Tate Liverpool, the Walker Art Gallery, and the UNESCO-listed Royal Albert Dock, Liverpool has long been a desirable destination for holidaymakers from all over the world. Some come to see the home of the Beatles, visiting the Cavern Club, Strawberry Fields, and the statue standing at the Pier Head. Some come to see the city’s ‘spare’ cathedral, while others sing along on the ferry ‘cross the Mersey.