By comparison, London has GDP of $565 billion and Manchester of $85 billion.

Manufacturing remains a substantial part of the local economy with several major factories, including Alcoa, Jaguar, Cadbury, Goodrich, GKN etc.

However, many other factories have downsized or closed as manufacturing has shifted to smaller hi-tech units with fewer staff and specialist niche products.

Birmingham is also the regional headquarters of several major banks, insurance companies, law and accountancy firms.

It is also a major transport hub, stockholding, warehousing and logistics centre.

Birmingham is a major retail centre, particularly since the redevelopment of the Bullring which has an annual footfall of over 40 million.

It also accounts for over 40% of UK conference and hospitality trade with key venues including the International Convention Centre, the National Indoor Arena and the National Exhibition Centre.

Birmingham is a major centre for education, research, medicine and technology with 5 universities, 10 hospitals and over 60,000 students.

It is also a major administrative centre with the largest city council in Europe and numerous government offices, agencies and quangos.