A MIPIM first, Manchester and London will be partnering on an event to close out the week.
In previous years, the Manchester and London delegations remained separate, both focusing on their own growth and inward investment, and discussing future plans to continue their reign as economic leaders of the UK.
In this resource, we’re going to take a look at what exactly makes Manchester and London leaders in the UK’s business market, and what might be the key talking points during this final MIPIM 2018 panel discussion.
A tale of two cities
New research from EY's regional economic forecast recently found that Manchester's economy is set to grow faster than anywhere else in Britain. Manchester is predicted to have an economic growth of 2.4% every year until 2020, whilst London grows by 2.2% and 2% respectively.
Partially to praise for Manchester’s economic growth is the Northern Powerhouse. Manchester’s productivity has rose by 6.8% between 2014 and 2016. This is only set to grow, and we’ll see an interesting panel discussion taking place on the Tuesday at MIPIM, as a team sits down to discuss the Northern ‘Tech’ Powerhouse, and what makes Manchester a driving force.
Continuing with growth, according to Manchester’s City Council Manchester city’s total GVA in 2016 was £17,896 million, which equated to a GVA per head of £33,063 – 4.2% higher than the previous year. Greater Manchester’s GVA in 2016 hit highs of £62,839 million, whilst London’s GVA reached an inspiring £395,857 million.
Additionally, research from Savill’s has shown that Manchester and Salford will be two of the fastest growing cities in the UK between 2017-2021, just behind Greater London.
Whilst these statistics are great for Manchester, a key talking point during MIPIM Wrap Up: Manchester & London may be the disparity between the North and South. EY's Chief Economist for UK and Ireland expects that the fastest growing regions over the next three years will be the four most southerly ones, London, the South East, the South West and the East.
Because this means that the economic gap between North and South could be larger in 2020 than it was in 2010, the MIPIM 2018 coalition of Manchester and London could see a discussion in economic rebalancing to bridge the North/South growth gap.
Distribution of economic success via sector will also likely be a discussion point during the session.
Manchester has made a name for itself at the forefront of new media in the UK. A recent Tech Nation 2017 report estimated that Manchester currently supports 62,653 digital jobs, creating an output of £2.8 billion per annum.
London, as you could imagine, is also skyrocketing ahead in the technology sector - according to figures published by London & Partners, the Mayor of London’s promotional agency, venture capital firms pumped more than £1.1bn into the city’s technology sector over the second half of 2017.
With a panel made up of former CEO of British Property Federation, Liz Peace, leader of Manchester City Council, Richard Leese and Cllr Darren Rodwell, we’re all set up for an insightful discussion about the direction of growth for Manchester and London, and how our efforts can combine to elevate the progression of our city’s economic successes.
Will we see you there?
With 21 years of experience working with property clients in both traditional media and digital capacities, Roland Dransfield has significant expertise in giving property schemes and campaigns the regional and national attention they require.
If you need help with your MIPIM marketing efforts or would like to discuss other PR and marketing activities, get in touch with us at Roland Dransfield today to take advantage of our MIPIM 2018 Digital and PR package.
Click here to read our blog about Tuesday's MIPIM event, 'Northern Tech Powerhouse: What makes Manchester a driving force?'