Manchester's economy is largely
service-based and, as of 2007, is the fastest growing in the
UK, with inward investment second only to the
Manchester’s State of the City Report identifies financial
and professional services, life science industries, creative,
cultural and media, manufacturing and communications as major
activities. The city was ranked in 2007 as the best place or
the second best place to do business in the UK, and the
eighteenth best in Europe.
Manchester has the largest UK office market outside London.
Greater Manchester represents over £42 billion of the UK GVA,
the third largest of any English county and more than Wales or
North East England.
Manchester is a focus for businesses which serve local,
regional and international markets. It is one of the largest
financial centres in Europe with more than 15,000 people
employed in banking and finance and more than 60 banking
The Co-operative Group, the world's largest consumer-owned
business, is based in Manchester and is one of the city's
biggest employers. Legal, accounting, management consultancy
and other professional and technical services exist in
Manchester's Central Business District is in the centre of
the city, adjacent to Piccadilly, focused on Mosley Street,
Deansgate, King Street and Piccadilly. Spinningfields is a £1.5
billion mixed-use development that is expanding the district
west of Deansgate.
The area is designed to hold office space, retail and
catering facilities, and courts. Several high-profile tenants
have moved in, and a Civil Justice Centre opened in October
Manchester is the commercial, educational and cultural focus
for North West England, and is ranked as the fourth biggest
retail area in the UK by sales.
The city centre retail area contains shops from chain stores
up to high-end boutiques such as Vivienne Westwood, Emporio
Armani, and DKNY. The city has several shopping malls including
the Manchester Arndale, the UK's largest inner city shopping
Other Major Cities:
- Kingston upon Hull