Economy of Liverpool

Liverpool's economy is dominated by service sector industries, both public and private. In 2007, over 60% of all employment in the city was in the public administration, education, health, banking, finance and insurance sectors. Over recent years there has also been significant growth in the knowledge economy of Liverpool with the establishment of the Liverpool Knowledge Quarter in sectors such as media and life sciences. Liverpool's rich architectural base has also helped the city become the second most filmed city in the UK outside of London, including doubling for Chicago, London, Moscow, New York, Paris and Rome.

Another important component of Liverpool's economy are the tourism and leisure sectors. Liverpool is the 6th most visited city in the United Kingdom and one of the 100 most visited cities in the world by international tourists. In 2008, during the city's European Capital of Culture celebrations, overnight visitors brought £188m into the local economy, while tourism as a whole is worth approximately £1.3bn a year to Liverpool. The city's new cruise liner terminal, which is situated close to the Pier Head, also makes Liverpool one of the few places in the world where cruise ships are able to berth right in the centre of the city. Other recent developments in Liverpool such as the Echo Arena and Liverpool One have made Liverpool an important leisure centre with the latter helping to lift Liverpool into the top five retail destinations in the UK.

Historically, the economy of Liverpool was centred around the city's port and manufacturing base, although today less than 10% of employment in the city are in these sectors. Nonetheless the city remains one of the most important ports in the United Kingdom, handling over 32.2m tonnes of cargo in 2008. It is also home to the UK headquarters of many shipping lines including Japanese