Solihull’s economy among the strongest in the UK as latest figures reveal exceptional growth and recovery
New figures have highlighted the continuing strength and resilience of Solihull’s economy, with the borough remaining one of the UK’s most productive and prosperous places to do business.
The latest regional Gross Value Added (GVA) data released by the Office for National Statistics shows that Solihull’s economy was worth £12.53 billion in 2024, accounting for 14% of the total economic output of the West Midlands Combined Authority area.
The figures also reveal that Solihull continues to outperform regional and national averages. At £56,653 per head, GVA per capita in Solihull is 49% higher than the England average and 92% higher than the West Midlands Combined Authority average, making it the highest of any upper-tier local authority in the West Midlands.
When adjusted for inflation the ONS data shows that the Solihull economy delivered exceptional growth between 2023 and 2024. Economic output in borough expanded by 6.3% (£724 million) in real terms in 2024, nearly five times the national average growth rate of 1.3% and significantly higher than growth across the rest of the region.
This latest data also underlines the substantial recovery of Solihull’s economy following the challenges of the Covid-19 pandemic. While the borough experienced a sharp economic impact during 2020, economic output continues to rebound strongly.
When adjusted for inflation, Solihull’s economy has continued to grow every year since 2021, expanding by a total of 31% between 2020 and 2024 and substantially outperforming national and regional averages over this period.
This latest GVA data underlines the importance of Solihull to the West Midlands economy and marks the borough out as an economy of national importance. Based on the most recently comparable data, Solihull had the 14th largest economy in Great Britain and the fifth largest economy outside London and the South East.
Cllr Heather Delaney, deputy leader of Solihull Council and the cabinet member for Economy, Employment & Skills, said:
“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.
“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.”
