The PwC report ranked Leicester as the best place to live and work in the East Midlands.
Leicester has shown significant improvement in this year's Good Growth for Cities report, released by PwC in collaboration with the think tank Demos.
The report, which evaluates the performance of UK cities and regions across key economic and social indicators, highlights Leicester’s continued recovery from the pandemic and its position as a growing economic hub.
The Good Growth for Cities index assesses factors such as jobs, income, health, skills, work-life balance, housing affordability, and transport infrastructure. Leicester has performed strongly in several areas, notably employment growth and business start-up rates.
These indicators suggest that the city’s economic foundations are becoming more resilient, creating a positive outlook for both local businesses and the wider community.
Leicester’s improving job market has been one of the standout features of this year’s analysis. Employment growth in the region has outpaced many other UK cities, reflecting the area’s efforts to diversify its industries and attract new investments.
This momentum is crucial for fostering long-term prosperity and supporting the ambitions of local stakeholders to create a robust and sustainable economy.
The wider report reveals that UK cities are grappling with a range of challenges, including rising inflation, housing pressures, and labour shortages. However, Leicester has demonstrated resilience in the face of these headwinds.
The city’s focus on increasing the number of skilled workers through educational initiatives and vocational training programs is helping to mitigate the impact of nationwide workforce challenges.
Despite the cost-of-living crisis, Leicester’s performance in the housing affordability category remains positive relative to other major UK cities. Affordability in Leicester is being bolstered by ongoing urban regeneration projects, which are designed to create a balanced housing market that supports both residents and newcomers. This focus on affordability plays a critical role in making the city more attractive to talent and businesses alike.
The success of Leicester is also tied to its participation in broader regional economic initiatives. The city is part of the Midlands Engine, a coalition that aims to drive economic growth across the Midlands region.
The collaborative efforts across the Midlands, including Leicester, are laying the groundwork for sustained economic development, particularly in sectors such as advanced manufacturing, healthcare, and green energy.
PwC’s analysis emphasises that cities like Leicester, which prioritise inclusive growth and long-term planning, are better positioned to navigate the complexities of the modern economy. The report calls attention to the importance of continuing investment in infrastructure, innovation, and skills development to ensure that economic benefits are shared across all communities.
As Leicester continues its trajectory of growth, the city’s leadership will need to focus on building a future-proof economy that addresses both short-term challenges and long-term ambitions.
The findings of the Good Growth for Cities report suggest that Leicester is well on its way to becoming one of the UK's top-performing cities, with a clear emphasis on job creation, housing affordability, and skill development.
With its resilience and forward-thinking strategies, Leicester is not just bouncing back but building a brighter, more inclusive future for its residents and businesses.
You can read the full report on PwC’s website.
Comments