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Shanghai Expo ‘bigger than Capital of Culture’ for Liverpool
2009. 17 June
(ldpbusiness.co.uk) Liverpool's involvement in next year’s World Expo in Shanghai will have a longer- lasting economic impact than European Capital of Culture year, it was claimed yesterday.
The claim was made by Liverpool City Council leader Cllr Warren Bradley following his recent visit to China ahead of the six-month event. Cllr Bradley said: “Our participation gives us a unique point of differentiation as we compete against other cities for investment and our indigenous enterprises compete for customers and clients.
“Over the next 25 years or so – and even longer – the strength of our relationship with Shanghai and China will be critical in all sorts of ways: as a trading partner, as a provider of inward investment, as a source of tourism income, as a country which will be at the hub of the globe’s most important commercial and knowledge networks.
“The impact of the Expo, therefore, may be less immediately tangible than the obviously beneficial impacts of 08, but more important to the long-term.”
The city council leader cited the findings of a report written by economic consultants Scott Wilson to support his claim about the significance of the World Expo.
The report forecasts increases in the number of Chinese tourists and students visiting the city, as well as a rise in exports to China and additional inward investment from the country into the region.
The report forecasts an additional 100 students a year from 2013, and a 0.25% increase in annual regional exports to China from 2012, peaking after four years.
It goes on to say that the additional economic output arising from Liverpool’s participation could amount to almost £50m in the decade or so following on from next year’s Expo.
Cllr Bradley said: “Capital of Culture delivered massive benefits to Liverpool in a very short space of time.
“I believe, however, that, in economic terms and in the long term, the Expo will ultimately deliver more benefit to Liverpool than Capital of Culture.
“It will position the city as an investment destination for Chinese-backed enterprises and will enable Liverpool companies to reach out into new global markets.
“This is true not least because the World Expo is more than a Chinese event – it is a global event with more than 200 participants from across the world.
“The chance is there for us to showcase our offer to a myriad of cities and global organisations.”
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