According to PwC’s latest analysis, residents in the West Midlands place a higher priority on work-life balance and income distribution compared to the rest of the UK.
The findings from the Demos-PwC Good Growth for Cities Index reveal that three out of the five major cities in the West Midlands outperform the UK average in adult skills.
Stoke-on-Trent stands out as the region’s top performer, climbing to 16th place out of 51 cities, up from 21st in the previous year’s index.
Coventry holds 27th, while Wolverhampton, Walsall and Birmingham rank lower at 39th, 48th, and 49th.
The Good Growth for Cities Index evaluates 51 of the UK’s largest cities, plus the London boroughs, based on a range of economic and quality-of-life measures.
PwC Good Growth for Cities Index 2024
It include jobs, health, income, safety, skills, and work-life balance, as well as housing, travel-to-work times, income equality, high street shops, the environment, and business startups.
The report highlights that while West Midlands cities excel in areas such as work-life balance, transport, and income distribution, economic growth in the region is expected to be slower compared to other UK regions.
David Morris, Midlands regional market lead, PwC, said: “The latest Good Growth for Cities index reaffirms what we’ve been discussing for a while: the West Midlands is lagging behind in terms of growth. That said, there are pockets where we’re starting to see improvement, notably Stoke-on-Trent increasing in the rankings and achieving higher scores on areas such as skills, income distribution and work life balance.
“We’ve been through an extended period of economic instability and uncertainty, but we’re starting to see the green shoots of recovery with inflation easing. The West Midlands has a real opportunity to prosper over the next few years if the right investments are made. PwC’s recently launched Framework for Growth report highlighted the need for businesses and government to work together to deliver sustainable growth and outcomes for the future.
“Elsewhere in the Framework for Growth report, skills, education and talent was identified as the top priority for growth by 68% of the UK businesses surveyed. I believe that by investing in skills for younger generations and ensuring our current workforce is equipped with skills for the future, we will move the dial on the West Midlands economy, and the time to act is now.”
