24.09.2018

Manchester named one of world’s top cities for investment

Knight Knox Investment Property Agent
 Show Interest

Manchester named one of world’s top cities…

 Show Interest
A major new report released by IT giant IBM has revealed that, thanks to FinTech, cyber security and advanced materials, Manchester is ranked in the global top 10 cities for foreign direct investment.

In terms of the parameters of the report, IBM were looking at what factors are driving foreign direct investment and impacting economic growth around the world.

London came out on top with regards to number of projects that attracted foreign direct investment, however, Manchester and Liverpool made their way into the top 10 globally thanks mainly to their emergence as a popular destination for tech start-ups and innovative manufacturing projects.

As a metropolitan area, Manchester and Liverpool attracted 68 projects which created 7,000 jobs between them. The report also notes that these were high income jobs which have boosted the economy significantly.

This ties into the recent trend of Manchester and the wider North West attracting some of the top talent from across Europe with inward migration. Property is currently going up in record numbers in order to accommodate the population boom and incoming talent, with off-plan property in particular seeing a surge in popularity and demand.

Quoted in the Manchester Evening News, Tim Newns, chief executive of Manchester’s inward investment agency MIDAS, said: “This report once again confirms Manchester as a globally significant business destination and, together with Liverpool, illustrates the potential of the Northern Powerhouse.”

Manchester has also seen a number of infrastructure projects coming close to completion recently, in particular the new motorway relief road through Stockport, Hazel Grove and East Cheshire, which is estimated to contribute up to £2.2bn into the economy as it eases congestion and makes access to the airport much easier.

A recent report from the Centre for Economics and Business Research states that the Greater Manchester economy grew by 7.5% in the years since 2014, compared to just 6.9% in London, while the Manchester city region has experienced growth of 9.1%. This growth is not predicted to slow, with forecasts showing that the Manchester economy is expected to expand by 14.8% over the next ten years.

The UK overall ranked 5th in the table for foreign direct investment by country, moving up from 6th the previous year and predicted to move upwards in the coming years. Despite coming 5th overall the UK has four cities in the top 20, equalled only by Germany.

The future is looking bright for the Manchester economy with there being no reliable predictions that the growth experienced by the city and larger region will slow down any time soon. The only question is whether property demand will be met by supply as buy to let property investors continue to enjoy the profitable housing market, builders may struggle to provide them with the supply they require.

 
Are you looking to invest in Manchester? Have a look at our available buy-to-let properties today.
Knight Knox Investment Property Agent

Marketing Manager for Knight Knox, one of the UK's leading Property Investment companies.

Are you looking to;

Comments

Business Management

Assessing the Impacts of Brexit on UK Aviation Industry!

Terminating over 4 decades of a lot more than an economic alliance, Britain’s divorce…
Training and Development

Are you in a career rut?

Most people get the feeling of being in a career rut for one of two reasons.For many they…
Business Management

Time Management

Time is one of the significant issues that business owners in London are facing. It is…

More Articles

Business Management

How one phone call changed my life!

In December 2007, I received a phone call which would result in me leaving a successful…
Training and Development

Do you want to be self motivated?

Why is it so important to be self motivated? Because, all the great thinkers throughout…
Business Management

The Formula for Success

The Art of War, is a book written by Sun Tzu, a Chinese General that was born before…

Would you like to promote an article ?

Post articles and opinions on London Professionals to attract new clients and referrals. Feature in newsletters.
Join for free today and upload your articles for new contacts to read and enquire further.

Find the right professionals in London

View The Full Index

Search By:

Submit your Enquiry here

Enquiry Details

Contact Details