The Legatum Institute recently produced the “Geography of UK Prosperity Index”; a model which ranks local areas across the UK based on wealth and well-being. Wealth was captured through GDP per capita, and life satisfaction survey scores were used as a measure of well-being.
In total, Warwickshire ranked 44/170 for prosperity; the highest ranked area in the West Midlands. Achieving GDP per capita of £22,297 and higher than average life satisfaction scores, meant that the county secured its place in the UK top 50 for wealth and well-being.
The chart below compares Warwickshire against several local areas (click to enlarge):
Source: UK Geography Index 2015; WCC
Warwickshire fell marginally behind England’s average of £22,494 per capita; with a prosperity gap visible between the county and the “South-East cluster”. However, there is an opportunity to close the gap if per capita income growth continues to increase in the future. Despite lower than average life satisfaction, Solihull also exceeded Warwickshire’s GDP per capita; identifying the borough as an emerging competitor within the West Midlands.
Leicestershire and Worcestershire ranked lower than Warwickshire for wealth, but achieved similarly high scores in life satisfaction to the “South-East cluster”; out-performing the national average. With the exception of Northamptonshire, the chart suggests that the lower rankings in prosperity are dominated by metropolitan areas. Birmingham attained the least life satisfaction, but higher wealth compared to nearby cities such as Coventry and Leicester. Note that in this analysis, London was taken as an average across its boroughs, therefore its score may be skewed by some of its poorer boroughs.
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