Liverpool’s food and drink sector is booming, with £76m spent in the first three months of 2024. This data, provided by Liverpool BID Company, highlights the significant impact that the sector has on the city’s economy. In fact, the food and drink sector is currently the largest in the city centre, representing 37% of the city centre economy. This surpasses other sectors such as retail (8.4%), fashion (18.2%), health and beauty (4.9%), and tourism (3.8%).
Bill Addy, CEO of Liverpool BID Company, emphasizes the importance of supporting the growth of the food and drink sector, particularly within the hospitality industry. He notes that the sector plays a vital role in the city’s economy, providing a substantial number of jobs and contributing significantly to the city’s visitor economy. Addy also acknowledges the challenges that the sector faces, such as hiring difficulties and rising costs, and emphasizes the need for support to ensure its continued success.
The data also reveals that spend in the city centre increased by 0.8% in February, with a notable 8.2% increase in footfall in March compared to the previous year. Additionally, occupancy rates in the city centre’s hotels and serviced accommodation have seen a 5.5% increase compared to the same period last year. These positive trends indicate a growing interest in Liverpool’s food and drink offerings, both among locals and visitors.
Matt Farrell, co-founder of Graffiti Spirits Group, highlights the cultural significance of Liverpool’s food and drink sector. He emphasizes that the sector is not just about providing sustenance but also about showcasing the city’s vibrant culture and spirit. With a remarkable 10% year-on-year growth, the sector is not only thriving but also essential to Liverpool’s economic vitality and identity. Supporting local businesses, creating jobs, and providing unforgettable experiences for guests and international visitors are all key aspects of nurturing this sector.
In conclusion, Liverpool’s food and drink sector is a vital component of the city’s economy and cultural identity. With significant spending and growth in the sector, it is clear that supporting and promoting this industry is crucial for the city’s continued success. By celebrating diversity, creating community, and showcasing excellence, Liverpool’s food and drink sector will continue to shape the city’s future and provide memorable experiences for all who visit.