The latest Manchester Monitor – a snapshot of the economic wellbeing of the region – highlights a number of positive trends in terms of Greater Manchester’s visitor economy, against the backdrop of continuing stagnation in the property and jobs market.
The analysis of the latest data available in March 2013 brings to the fore the role that football plays in boosting the region’s visitor economy, where a number of key league and cup games at the start of the year have led to hotels recording some of the highest levels of occupancy (between 93% and 99%) on match days, and the best overall January occupancy rates since 2008.
Keeping with the visitor economy, Manchester Airport recorded 1.3 million passengers in December 2012, 61,000 up on the same month in 2011. For 2012 as a whole the airport saw over 19 million passengers through its doors, an annual rise of over 800,000. Prospects for further growth also look good with new direct routes to Moscow, Cairo and Krakow being added in 2013.
In contrast the housing market continues to flat-line with average property prices in Greater Manchester at £103,500 in January 2013, similar to January 2012, whilst sales have shown little sign of upward movement on a 12 month basis.
Similarly the conurbation’s labour market continues to struggle with just over 85,200 people claiming Job Seekers Allowance (JSA) in January 2013 – a monthly increase of 3,200 (3.8%), which can be largely explained by the end of the temporary Christmas jobs period. Annually however, JSA claimant numbers are down 1,000 (-1.2%) when compared to January 2012.
Baron Frankal, director of economic strategy at New Economy, said:
“There is a measure of reassurance in this month’s figures that despite the continuing fragility of the UK and indeed Greater Manchester’s economy, our visitor economy continues to see consistent improvements, with rarely a month passing without good news on hotel occupancy or passenger numbers at Manchester Airport.
“This month sees a particularly strong correlation to football, which so clearly has a massive effect in bringing people here. However, we can’t rely on the impact of match days alone, which is why it is fantastic the analysis evidences the positive impact of the beautiful game in other areas such as business tourism.
“Next month the European Soccerex Forum, the global football business conference and exhibition, returns to Manchester as part of us hosting the event for the 2010-13 period. And for the four years after that we’re hosting the Soccerex Global Convention, which will attract more than 20,000 delegates during the four year contract. Football coming home indeed.”
Click here to access the Manchester Monitor.
Source: http://neweconomymanchester.com
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