Latest economic data confirms that Stockport Means Business - MIDAS

Latest economic data confirms that Stockport Means Business

14 January, 2008 – Latest economic data confirms that Stockport Means Business

The latest figures measuring tourism growth and employment figures reveal good news for Stockport, as the borough sees increases in visitors and the number of people working in Stockport.

New tourism figures generated by the STEAM* (Scarborough Tourism Economic Activity Monitor) model show that Stockport enjoyed a successful 2006, with visitor numbers rising to over 8 million, an increase of over 3% on 2005.

Visitors are also spending more money on shopping, food and drink and recreation, spending a total £318 million, an additional £8 million compared to 2005.

Stockport’s tourism industry also supports 5,000 jobs and is now one of the borough’s growing employment sectors.

The latest figures from the Office of National Statistics (ABI 2006), which provide workforce statistics across Britain, are also encouraging, showing a growing local economy in Stockport. Stockport now has the third largest workforce in Greater Manchester.

The number of employees in Stockport has risen by 2.2% between 2005 and 2006 with over 121,500 employees recorded in 2006.

The rate of growth across the borough was stronger than that seen in the North West (0.8%) and England (-0.6%). Growth in ‘Financial & Professional Services’, one of the Stockport’s key sectors, has also been strong and the ‘Banking, Finance & Insurance’ sector has seen a 17.3% rise in the number of employees in Stockport since 2002, making it one of the largest employment sectors in Stockport, now employing almost 29,000 people.

Councillor Sue Derbyshire, Executive Member for Regeneration, said: "This is all encouraging news. The ABI figures reflect the growing strength of Stockport’s economy generally, as well as in several key sectors.

"Business is doing well in Stockport and our support for local businesses has helped many grow in strength and number within the borough.

"The STEAM research also reinforces the importance of tourism to the local economy. There has never been a more important time to invest in our tourism offer and with ongoing co-operation between the public and private sectors I expect Stockport will continue to thrive and build on its visitor attractions."

Source: Stockport MBC press release


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