The Top Industries That Make Liverpool a Powerhouse
Liverpool is a powerhouse of a city. This diverse and vibrant town welcomes millions of people yearly, whether tourists, students or new residents. From a business perspective, Liverpool is well-equipped to compete with the best. The city boasts a significant economy that contributes massively to the United Kingdom. In fact, in 2017, Liverpool saw the highest growth in GVA across the entire country.
The attraction to Liverpool is clear, and it’s no wonder the region is the North West’s only rival to nearby Manchester. With a growing population of more than 1.3 million, this destination has something to entice anyone. Liverpool continues to grow, with billions of funding going into city developments, and there are unparalleled opportunities whether people want to learn, live, work or have fun.
Liverpool is a highly affordable city which is an essential factor during the current economic crisis. As a great university city, Liverpool welcomes thousands of new students and graduates yearly. Graduates can pursue various exciting and rewarding careers for major brands and promising startups across several industries.
Explore Liverpool is one of the city’s largest local media websites, covering everything from what’s on in Liverpool to city news and jobs. Explore Liverpool has provided us with some excellent insight into Liverpool’s biggest industries, from the city’s exciting tourism prospects to its contributions to health and life sciences.
Tourism & Hospitality
Undoubtedly, the tourism and hospitality industries are at the forefront of what makes Liverpool successful. According to the city’s Local Enterprise Partnership, the Visitor Economy is worth a whopping £4.9bn and supports more than 55,000 jobs. Jobs in this sector can include working for hotels, restaurants, tourist attractions, travel agents, museums, and much more.
Because of Liverpool’s musical heritage, cultural offerings and local football teams, the city is a massive attraction for tourists worldwide. 2023 is expected to be another big year for the town, especially as it will be hosting the hugely popular Eurovision Song Contest in place of Ukraine.
Manufacturing & Logistics
Another vital industry that contributes to Liverpool’s infrastructure is advanced manufacturing. The UK is the world’s ninth-largest manufacturing nation, delivering £183 billion worth of products. Most of the country’s manufacturing output comes from the North West, with Liverpool at the heart of it all. Manufacturing supports 50,000 jobs in Liverpool at more than 3,00 companies. The biggest brands include Jaguar Land Rover, Unilever and Astra Zeneca.
Similar to manufacturing, logistics is an essential sector for Liverpool. The city has a rich history of operating as a port city. With key connections via land, air and sea, Liverpool helps the supply chain keep functioning by ensuring goods are shipped far and wide.
Health & Life Sciences
Liverpool has always been proud of being a global leader in health and life sciences, but this commitment has excelled in the last decade. Billions of pounds have been invested in enhancing Liverpool’s Knowledge Quarter, an area that allows professionals in health and life sciences to flourish. Just a few weeks ago, Liverpool finally opened the doors to its brand-new flagship Royal Liverpool Hospital which will transform its healthcare facilities. Other projects include The Spine, a 14-storey building housing the Royal College of Physicians, and Liverpool Science Park.
Professional & Business Services
The professional and business services (PBS) industry is essential to our national infrastructure as it creates partnerships that help companies to grow. Professional services can include necessary support to businesses, such as auditing, financial advice and market research. On the other hand, business services include tasks like leasing consumer goods, human resources and office administration.
The professional and business services sector contributes £4.3bn to the economy and employs over 93,000 people. It’s estimated that 14.4% of jobs in the region belong to this industry, highlighting its importance to the city.
Film & TV Production
Liverpool has emerged as one of the best sites outside the capital for film and TV production. Productions that have been shot in recent years include The Batman, The Ipcress File and Peaky Blinders. Production companies are attracted to the city’s stunning architecture and excellent facilities. A brand new film studio called The Depot opened in 2021, offering two huge spaces for filming. Over the next few years, the old Littlewoods building on Edge Lane will be transformed into a multi-million studio, further bolstering Liverpool’s attraction to production companies.
