The Birmingham Economic Review 2022 was held on Thursday 20th October 2022 at the Exchange, University of Birmingham in partnership with the Greater Chamber of Commerce (GBCC) and the City Region Economic and Development Institute (City-REDI)
This year’s review provided a comprehensive analysis of the city’s economy as it emerges from a series of economic shocks, from Brexit, through the coronavirus pandemic into a period of high inflation and uncertainty caused by the energy crisis, rising material prices, cost of living crisis to on-going uncertainties around interest rates, debt, the strength of our currency and of course the Ukraine situation.
The West Midlands regions in particular has been hit harder than most other regions in UK by the effects of these economic shocks and uncertainties. The Regional Gross Value Added (GVA) declined by 11.8% in 2020 and recovery has been markedly slower than other regions in the UK. Most disturbing of the review is that lower income communities have been impacted the most and there is even a greater divide between the derived communities and those with assets, knowledge base and higher income to get through these downturns
The review discussed the actionable measures that businesses and stakeholders from across the city-region can take to adapt, foster resilience, and grow in this challenging environment. Areas covered was economic crises and resilience, disruption to local businesses, challenging facing Birmingham’s population, connecting sustainable and all inclusive communities and opportunities ahead building on regional strengths.
In addition to Dr Josh Ahmed, the Speakers were Deb Leary OBE, D.Univ, FRSA, President of the Greater Chamber of Commerce who also Chaired the Panel, Professor Adam Tickell, Vice Chancellor of University of Birmingham, Professor Simon Collinson, Deputy Pro-Vice Chancellor at University of Birmingham, Councillor Brigid Jones who is the Deputy Leader of Birmingham City Council and Yetunde Dania, Partner at Trowers & Hamlins.
