The Legatum Institute’s UK Prosperity Index uses 256 indicators based on the latest available data to provide a comprehensive assessment of institutional, economic, and social wellbeing across the country’s 379 local authorities.
The region only comes in at 14th out of 15 UK regions in the index which will be used to track the Government’s levelling-up agenda and hold decision makers to account for improving the prosperity of all regions of the UK.
The West Midlands has a strong and vibrant economy but higher crime rates, weaker social capital, higher levels of poverty, and poorer health outcomes than other areas of the country.
Key strengths are relatively strong investment environment with businesses in the region have the best perception of the banking sector in the country and above average rates of investment in new processes and products; good enterprise conditions with flexible labour markets and the third lowest level of vacancies classified as…
