Greater Manchester’s economy has been growing at twice the UK’s national rate, and it’s showing no signs of slowing. A recent report from Bloomberg delves into the driving factors behind Manchester’s growth, as the capital of the north continues to be placed on a global stage.
The population within the city centre is fast approaching 100,000, a major jump from 1990, where the population was in the hundreds. The city also retains 50% of its graduates, the highest share of anywhere in England outside of the capital.
The significant graduate retention rate contributes greatly to Manchester’s growth, as the talent chooses to remain in the city, more employers open offices, and a thriving dynamic is created. 80% of the FTSE100 companies have a base in Manchester, including global businesses such as IBM, Booking.com, Klarna, Bosch, Roku and Auto Trader.
Greater Manchester’s mayor, Andy Burnham, is also clearly committed to driving further growth, as last week he announced a plan to “reindustrialise” the city-region by focusing on five “growth-driving clusters,” including creative industries, green, and life sciences.
Manchester is continue to attract investment from across the world, as it outpaces other major UK cities growth, including London.
