Liverpool set for a decade of growth

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Liverpool is entering an exciting new era of economic growth, with strong foundations already in place and a clear trajectory of development across multiple sectors. The city has transformed its economy over the past two decades, moving beyond its industrial roots to become a hub of innovation, culture, and opportunity. Today, the evidence suggests Liverpool’s economy will continue to expand over the next ten years, supported by growth in life sciences, clean energy, tourism, and research.

Currently, Liverpool’s GDP is around £18.4 billion, with GDP per head at approximately £40,392, which is above the UK average of £35,850 (Liverpool City Council). This performance reflects not just strong business activity but also the city’s rising productivity and competitiveness. In terms of enterprise, Liverpool is seeing impressive numbers of new businesses, with over 2,300 start-ups recently registered and a rate of 56 start-ups per 10,000 adults. These figures highlight the confidence entrepreneurs and investors have in the city’s future.

Tourism is another major driver of growth. The Liverpool City Region’s visitor economy is now worth more than £6 billion annually, with 2023 showing a 21% rise in value compared with 2022 (Liverpool City Region Combined Authority). More than 60 million visitors come to Liverpool each year, with around six million choosing to stay overnight, bringing a significant boost to local hospitality and retail. With the city’s cultural reputation firmly established on the global stage, from The Beatles to world-class sporting events, tourism is set to grow further as Liverpool continues to invest in new attractions, venues, and infrastructure.

The knowledge economy is also playing a pivotal role. The University of Liverpool alone generates around £1.2 billion in GVA and supports nearly 16,000 local jobs (University of Liverpool). Alongside this, the city is rapidly becoming a recognised centre for life sciences, with over 167 companies employing more than 6,000 people. A new life sciences investment zone has been launched, aiming to attract £800 million in funding and create approximately 8,000 jobs over the next decade (The Guardian).

Clean energy is another growth engine. The North West Net Zero Hub projects that the region will generate 35,000 new jobs by 2028 through clean power and decarbonisation initiatives (Liverpool City Region Combined Authority). With Liverpool’s strategic location and strong infrastructure, the city is well placed to take advantage of green investment and the transition towards net zero, positioning itself as a leader in sustainability.

Looking ahead to 2035, forecasts suggest Liverpool’s economy could grow at an annual rate of 2–4%, resulting in a cumulative increase of 30–50% in GDP over the next ten years. Employment opportunities are expected to expand significantly, with 20,000–50,000 new jobs likely across life sciences, clean energy, digital industries, and tourism. The visitor economy could also reach new highs, potentially exceeding £10 billion annually if investment continues. These developments, combined with ongoing regeneration projects and improvements to infrastructure, will help Liverpool close the gap with other UK cities and strengthen its role on the international stage.

The outlook is one of optimism. Liverpool has reinvented itself as a city of innovation and resilience, with a thriving business environment, a strong cultural identity, and a clear strategy for sustainable growth. By 2035, Liverpool is expected not only to be one of the UK’s leading regional economies but also a global hub for research, green energy, and culture, delivering prosperity and opportunity for its communities.

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