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Economy

Last Modified 31/10/2023 10:55:45 Share this page

Economy

A strong and flourishing economy underpins the health and wellbeing of both individuals, communities and local areas. This page gives a brief overview of the economy in Blackpool. Further information around employment and earnings is also available.

Blackpool is a distinct local economy in the North West, with 3,950 businesses (2017), contributing an annual gross value added of £2.421bn (2017). Gross value added (GVA) is the measure of the value of goods and services produced in an area, industry or sector of an economy and Blackpool has the seventh highest in the Lancashire-14 area.

Both wages and gross disposable household income (GDHI) are lower in Blackpool compared to other areas of Lancashire and England. Gross disposable household income (GDHI) is the amount of money individuals in the household sector have available for spending or saving after direct/indirect taxes have been deducted, and direct benefits applied and is a good indicator of an area’s economic strength.[1]

Total GDHI percentage growth in the Blackpool unitary authority area between 1997 and 2021 was 76.8%, which is lower than England (105%). Blackpool’s provisional GDHI per head of population for 2021 was estimated at £16,717, again, below England (£21,679).

As a seaside resort, Blackpool is one of the UK’s most popular tourist destinations and a large proportion of Blackpool’s economy is underpinned by visitors to the area. The well-known attractions include the Pleasure Beach, the Sandcastle Waterpark, and Blackpool Tower. There are no visitor attraction numbers available for Blackpool for 2022 (full re-opening after COVID-19 restrictions were lifted), so it is difficult to accurately track Blackpool’s recovery in this area and the contribution to the local economy.

Other major employers in Blackpool include Lancashire Constabulary, the NHS, and the public sector. The Talbot Gateway development will see over 3,000 Department of Work and Pensions staff moving into the town centre in 2024. Blackpool Council’s ‘Creating a better Blackpool’ plan includes levelling up schemes, regeneration, skills development and infrastructure improvements, all of which will contribute to a stronger Blackpool economy.

The Office for National Statistics produces a range of publications around the cost of living, which provides valuable insight into how an area's residents are coping during these difficut financial times and the strengths and weaknesses in the economy. 

The National Online Manpower Information Service (NOMIS) has produced a Labour Market Profile for Blackpool, which covers some of the key metrics for the local economy. 

For historical economic background, an assessment of the Blackpool economy was undertaken in November 2011. The report identified key economic drivers to inform economic development strategy and investment decisions. The work also assessed Blackpool’s role in the wider Fylde Coast economy, and key opportunities going forward. Both the Executive Summary and full report are still available.

Further data and intelligence for Blackpool’s economy is available from Lancashire Insight.


[1] This relate to totals for all individuals within the household sector for an area, rather than to an average household or family unit. GDHI per head are estimates of values for each person, not each household.