Population and workforce
The population of the West Midlands is 5,365,400 - 9% of the GB total. The region’s capital city, Birmingham, is the second largest city in the UK and has a population of over 1 million people. (Source: ONS)
There are 2,520,000 people employed in the West Midlands and 166,000 unemployed, an unemployment rate of 6.2%. (Claimant count rate of 3.9%)
There are 2,686,000 economically active and 720,000 economically inactive people in the West Midlands. (Source: ONS, Labour Market Statistics, April 2007)
Economy
The West Midlands has a headline Gross Value Added (GVA) figure of £84,838 million (7.8% of UK total). This equates to a GVA per head of £15,812. (Source: ONS)
Transport
The West Midlands is located at the hub of the UK’s road and rail network. 75% of the UK’s population is within 5 hours truck drive and all the major European cities within 48 hours.
Birmingham International Airport (BHX), the second largest airport in the UK outside London, serves over 100 destinations in Europe, North America, Asia and the Middle East. Additionally, Coventry Airport serves 18 European cities.
The Midland Metro light rail service operates between Birmingham and Wolverhampton, the 20km stretch of track serving 23 stations in Birmingham and the Black Country.
House prices
Average property prices for the West Midlands region stand at £281,195 for a detached, £156,345 for a semi detached, £128,518 for a terraced, and £126,694 for a flat or maisonette, resulting in an overall property price of £172,151, up 7% from this time last year. (Source: Land Registry, Oct-Dec 2006)
Major West Midlands’ companies
Major local companies with headquarters in the West Midlands include Jaguar, Land Rover, Aston Martin, IMI, Lucas, Cadbury, Tarmac, GKN, Royal Doulton, JCB and Wedgwood.
In 2006/07, the West Midlands attracted 97 inward investments from 22 different countries creating 2,500 new jobs and safeguarding almost 12,000 more. The largest investor was the United States followed by Germany, India, Australia and France.
Employment by sector
| Companies | Employees |
| Agriculture and fishing | 601 | 20,613 |
| Energy and water | 360 | 13,762 |
| Manufacturing | 18,988 | 362,252 |
| Construction | 19,120 | 107,165 |
| Distribution, hotels, restaurant | 59,188 | 573,679 |
| Transport & communications | 9,468 | 133,742 |
| Banking, finance & insurance | 56,838 | 416,208 |
| Public admin & education | 18,028 | 636,280 |
| Other services | 15,001 | 112,673 |
| | (Source: NOMIS) |
Manufacturing
The West Midlands was the birthplace of the Industrial Revolution and still has the highest proportion of manufacturing companies of any UK Region employing 15% of all people employed (Source: NOMIS).
The Gross Value Added in manufacturing for the West Midlands is £15.125 billion, 18.5% of the regional total (10% of the UK total) (Source: ONS)
Service sector
The region has a thriving service sector, which provides employment for 49% of all WM employees. (Source: ONS).
The service sector provides over half of the region’s GVA (£41.9bn) with the largest sector ‘Property & business services’ (£17.8bn) followed by ‘Health & social work’ (£6.1bn), ‘Education’ (£5.4bn) and ‘Financial services’ (£4.5bn).
Tourism
Tourist attractions range from the historic, such as Stratford-upon-Avon and Warwick Castle, to modern attractions such as Alton Towers and the National Sea Life Centre.
The West Midlands is home to many prestigious sporting events including Premiership football, test match cricket at Edgbaston, Ryder Cup golf at the Belfry and Davis Cup tennis, as well as arts organisations such as the Royal Shakespeare Company, the Birmingham Royal Ballet and the City of Birmingham Symphony Orchestra.
The region boasts 20,000 hectares of National Park and 127,000 hectares of land designated as Areas of Outstanding Natural Beauty, from the Peak District in Staffordshire to Herefordshire and the Wye Valley to Worcestershire, the gateway to the Cotswolds and home to the Malvern Hills.
Education
The West Midlands has some of the best performing educational institutions in the country.
These include nine Universities, as well as several colleges of higher education, which between them have 176,965 enrolled students producing 34,495 graduate and 14,930 postgraduate qualifications annually. (Source: HESA 2004-05) The region has particular strengths in computer science, medicine, business administration, engineering, technology and education. Several of the country's best performing primary and secondary schools are also to be found in the West Midlands.
Research institutions
The West Midlands has a range of internationally recognised research institutions helping customers maximise advantage through technology, design and development, training and assessment. These include expertise in automotive design and development, agriculture, polymer research, ceramics and science and technology. Examples include CERAM for the ceramics industry and the University of Warwick’s Premier Automotive Research and Development Centre for the luxury car industry.