Solihull Economy Boasts Exceptional Growth, Outperforming National Averages
New figures reveal Solihull's economic output reached £12.53 billion in 2024, with per capita GVA significantly higher than regional and national benchmarks.
By Sarah Bancroft
••3 min read
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Solihull town centre with modern and traditional buildings under sunlight.
Solihull's economy has demonstrated exceptional strength and resilience, significantly outperforming national and regional averages with a total output of £12.53 billion in 2024.
New data from the Office for National Statistics (ONS) highlights the continuing strength of Solihull's economy, positioning it as one of the UK's most productive and prosperous business locations. The borough's economic output reached £12.53 billion in 2024, representing 14% of the total economic output for the West Midlands Combined Authority area.
Solihull's Gross Value Added (GVA) per capita stands at £56,653, which is 49% higher than the England average and 92% higher than the West Midlands Combined Authority average. This figure makes it the highest among all upper-tier local authorities in the West Midlands.
Adjusted for inflation, the ONS data reveals that Solihull's economy experienced substantial growth between 2023 and 2024. Economic output expanded by 6.3% (£724 million) in real terms during 2024, a rate nearly five times the national average growth of 1.3% and considerably higher than the growth seen across the rest of the region.
This latest data also underscores the significant recovery of Solihull's economy following the challenges posed by the Covid-19 pandemic. Despite a sharp economic impact in 2020, the borough's economic output has continued to rebound strongly. Adjusted for inflation, Solihull's economy has grown every year since 2021, achieving a total expansion of 31% between 2020 and 2024, substantially outperforming national and regional averages over this period.
The GVA data reinforces Solihull's importance to the West Midlands economy and marks the borough as an economy of national significance. Based on the most recent comparable data, Solihull possessed the 14th largest economy in Great Britain and the fifth largest economy outside of London and the South East.
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"These figures underscore Solihull’s position as one of the UK’s leading economic centres. They show the scale and productivity of our local economy and demonstrate the resilience of our businesses and residents. Solihull experienced a significant economic shock during the pandemic, yet our recovery has outpaced regional and national averages, and we continue to attract investment, create jobs and support business growth."
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"Although GVA data is published with a time lag, it remains the gold standard measure of local economic performance. This picture is supported by more recent business data which continues to point to strong levels of economic activity, business confidence and investment, reinforcing Solihull’s role as a key driver of growth within both the West Midlands and the wider UK economy."
