Oxford Economics named Manchester an ‘emerging star of the global economy’

Manchester was chosen as one of five European cities to watch by Oxford Economics in the firm’s 2026 Global Cities Index, alongside Eindhoven, Tallinn, Toulouse, and Warsaw on the back of strong GDP growth, high-quality universities, and appeal to younger professionals were highlighted as key strengths of the city in the group’s latest report.

The list said it would “highlight some of the emerging stars of the global economy.” For Oxford Economics’ purposes, this part of the report used the term “Manchester” to mean the city as well as Trafford and Salford. When discussing Manchester’s selection, Oxford Economics’ lead economist for Europe, Dmitriy Gruzinov, said: “Manchester… has seen the strongest GDP and productivity growth among the UK cities, as well as some of the largest employment gains in Europe.”

“This has been partly achieved through the city’s rich cultural offering and lower costs attracting many younger workers, while being supported by substantial infrastructure investment and its excellent university.”

“Manchester is firmly positioning itself as a go-to European hub for talent and investment,” said Oxford Economics’ cities and regions director Liam Sides.

Greater Manchester was also in a position of strength, according to the Global Cities Index. Putting its GDP at £144bn, Oxford Economics predicted that the city region would add the fifth-largest numbers of jobs across Europe over the next 25 years. The city region was ranked as the third strongest area in the UK, behind London and Edinburgh, and ranked 90th globally.

Birmingham, was ranked as the ninth strongest in the UK and 118th worldwide, fellow Northern city Leeds came in fifth nationally and 103rd internationally. Newcastle was 10th nationally and 150th globally.

“It has been unique in a UK context for pairing large productivity gains with major employment expansion, particularly across office-based sectors.”

Mayor of Greater Manchester Bev Craig said it was “fantastic” to have the city region featured in the index.

“As the report says, our success has been built on the talent of our people, supported by long-term investment in public transport, our building of new homes, offices and workspaces, as well as our outstanding universities and vibrant culture,” Craig said.

“We’ve created the right environment for businesses to thrive and create high-quality jobs… By investing through our Good Growth Fund and rolling out mayoral development corporations across the city region, we will ensure our future delivers good growth that benefits everyone, improves living standards and creates opportunities in every postcode.”

Oxford Economics crafts its Global Cities Index by examining and judging cities on their economics, human capital, quality of life, environment, and governance.

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