Trends and forecasts :

The Merseyside Economic Review 2002 2) indicates the following likely trends for the region:

• Faster growth; in R&D expenditure. Since 1995 Merseyside R&D spending has run at almost three times the national level.
• Increasing income; the regional earnings gap has closed significantly during 1999 – 2001
• Falling unemployment ; from 11.2% - 5.7%. 1999 – 2001.
• Improved educational profile; NVQ levels have increased significantly
• Population stabilization; the rate of population decline has reduced. Currently the population stands at 439 473.
• City centre expansion; the continual expansion of the city centre has been one of the driving forces for growth and reduced unemployment during the past 5 years. Since 1991, the population of Liverpool City Centre has grown by almost 300% from 2340 people to ca 9000 people in 1999 and even more with recent new apartment developments.

Forecast for Liverpool in the medium term :

Merseyside growth prospects are expected to increase significantly. Growth in value added for the region is expected to average +1.4% 3. This will continue to narrow the regional deficit.

The main sectors for growth are expected to be in knowledge sectors such as;

• Health
• Education
• Financial services
• Communications
• Cultural and leisure activities.

 

 

Growth Trends by sector :

Tourism :

Visits to Liverpool are projected to increase from 8,0 million people in 2002 to 11,1million in 2008 with approximately 2,4 million estimated to be directly attributable to the ECoC and associated projects.

Additional “legacy effects “ have been measured in other ECoC cities. These legacy effects are the result of word of mouth referrals ,effective marketing and the increased national and international profile following the ECoC success. In Liverpools case this is expected to be approximately 720000 visits per annum generating an additional revenue of £53 million each year.

Particular focus will be placed on visitors from USA and Japan.

Key sector growth trends in Merseyside. 1996 – 2001

The major sector developments are listed below:

• Advertising + 380% (1991 – 1996) (-85% 1996-2001)
• Computer games, software & electrical publishing 141% (1991-1996)(+6% 1996-2001)
• Radio & TV + 126%
• Designer fashion +176%
• Heritage & tourism +55%

Over a 10 year period Liverpool has seen significant growth in creative industries;

• Radio & TV +183%
• Designer fashion (+191%)
• Computer games, software & electrical publishing (+154%)

Mersey Television is the largest independent production company in the UK. New Media, Film and Television employs 62000 people and the sector has a combined turnover of approximately £6.45 billion.

In 2001 Liverpool employed 29000 people in cultural industries of which 5000 were directly in the creative industries sub sector. This growth is expected to continue.

 

 

Project investments :

2003-2008 Liverpool City Council investment in socioeconomic, environmental and transportation projects will total in excess of £3 Billion.

Of this £2.4 billion is capital investment 30000 additional additional jobs will be generated.

Planned projects leading up to the ECoC

• Kings Dock (including conference and exhibition facilities
• 4th Grace a world class venue for business, residential and cultural use
• Museum of Liverpool life – the world’s best urban history museum ?
• Leeds – Liverpool canal link – linking the docks of Liverpool
• Cruise liner terminal
• Mersey Waterfront Regional Park
• The Fact centre (Film,Art, Creative Technology centre)
• Liverpool philharmonic centre
• The Bluecoat Arts centre renovation

Additional cultural investments include

• The Walker Art Gallery
• Sudley House
• Liverpool museum
• St George’s Hall
• Film studios
• Libraries
• Paradise street development area
• Liverpool football club new stadium
• Mersey tram
• Lime street station

 

 

 

The ECoC ANNUAL themes :

2003 - Celebrating learning
2004 - Celebrations of faith and the community
2005 - Celebrating the Arts
2006 - The year of sport
2007 - Celebrating heritage
2008 - The world in one city
2009 - Celebrating the environment
2010 – Celebrating innovation.