The Driving Forces Behind Why the Wakefield Economy Has One of the Fastest Growing Disposable Incomes in the UK

Ever get to the end of the month and wonder where all your money went? After paying for all the essentials like rent, bills, and food, the cash left over for fun stuff – like going to the cinema, buying a new game, or saving up for something big – is what’s known as ‘disposable income’. And it turns out, for people in Wakefield, that little pot of extra cash has been growing faster than in most other places in the entire UK. That’s a pretty big deal, and it’s all thanks to a seriously strong local economy.

What's the big news for Wakefield?

A new national report, released on 26 January 2026 by a group called the Centre for Cities, has put a spotlight on Wakefield. These folks are experts who look at how well the economies of different cities and big towns across the UK are doing. Their latest findings show that Wakefield isn't just keeping up; it's actually pulling ahead of the pack in some really important ways. Between 2013 and 2023, the city’s economy saw some incredible growth.

Just have a look at the numbers:

• Wakefield's Economic Growth: The whole economy grew by a massive 23.9% over ten years.

• UK Average Growth: Across the rest of the country, the average was quite a bit lower at 18.4%.

• Wakefield's Disposable Income Growth: That all-important ‘fun money’ pot, the total disposable income, grew by 4.6%.

• UK Average Disposable Income Growth: The national average was just 2.4%.

So, not only are more things happening and more money being generated in the Wakefield district, but people are also feeling the benefit in their pockets. This impressive performance shows that the local economy has been quietly building strength over the last decade.

So, why is Wakefield's economy doing so well?

It’s not just one single thing, but a mix of clever planning and natural strengths. The Wakefield Council has highlighted what makes the area so special. Cllr Denise Jeffery, Leader of the council, pointed out that several key areas are firing on all cylinders. Think of it like a well-oiled machine with lots of different parts working together.

“Wakefield’s economy has some major strengths. With our construction and advanced manufacturing, health and care, transport and logistics, and digital and creative sectors all at the heart of driving growth,” she said.

Let's break that down. The construction industry is busy building new homes and workplaces. The health and social care sectors are huge employers and are always needed. And the digital and creative fields are where the modern magic happens – everything from web design to video game development. These are the industries of the future, and they're thriving in West Yorkshire.

Cllr Jeffery also added, “Our excellent connectivity, relatively affordable property prices, and talented local workforce mean that it’s no surprise we’re performing strongly. I welcome the Centre for Cities report setting out just how much the Wakefield economy has grown over the last decade. This is a base from which to build. We know more needs to be done to attract investment into Wakefield. To create an economy where everyone feels the benefit of growth. And for our city to be a place we’re all proud to work, visit, and call home.”

That point about connectivity is massive. Being so well-connected by road and rail means it’s easy for people and businesses to get to and from major hubs like Leeds and even London. Combine that with more affordable housing than you’d find in many other big cities, and you have a winning formula.

What's next on the cards?

The good news is that this isn't where the story ends. The council sees this strong performance as a launchpad for even bigger and better things. They have a solid plan to keep this positive momentum going. This is where exciting things like regeneration and a new Growth Plan come into play. It's all about making sure the city doesn't just rest on its achievements but pushes on to create a brighter future.

Cllr Jack Hemingway, the Cabinet Member for Economic Growth and Regeneration, explained that the city is ready to be even more ambitious. “We’re already playing a vital part in the West Yorkshire Combined Authority as the best-connected part of West Yorkshire to Leeds city centre and London,” he noted.

The plans are focused on real, visible improvements that will affect everyone. “Put together with our city centre regeneration plans and Economic Growth Plan will take our economy to the next level. Setting out an ambitious plan to increase growth and our standard of living. Improving our retail and leisure offer. Delivering more high-quality and affordable housing. And creating more spaces that people want to visit and spend time.”

Imagine a city centre with new shops, great places to eat, and cool spots to hang out. That’s what regeneration is all about. The Growth Plan is the blueprint for making it happen. It’s also tied into the national industrial strategy, which is the UK's country-wide plan for economic success. By aligning with this, Wakefield is making sure it's focused on the industries that will matter most in the coming years. This strategy is designed to attract even more investment, which means more jobs and opportunities for everyone across the district.

Cllr Hemingway summed up the forward-thinking attitude perfectly: “Now is the time to be even more bold. Setting our city up to capitalise on the opportunities of the economy of the future will attract investment, drive innovation, and spread prosperity even more widely over the next decade and beyond.” This is about building an economy that benefits not just the city centre but all the surrounding towns and communities too.