About this research
The UK Prosperity Map is an annual piece of research compiled by Opinium on behalf of Barclays Wealth & Investments. It ranks UK regions and cities in terms of their affluence. A Prosperity Index score has been calculated by Opinium for each UK city and region. In addition, data provided by Wealth-X calculates UK millionaire numbers. The index uses third party figures on the factors listed below:
Factors used in regional Prosperity Index Score
- Median household wealth1
- GDP per capita
- Unemployment rate
- Average weekly household expenditure
- Average house price
- Proportion of pupils with A*-C GCSE grades
- Mean number of paid hours per week
- Mean gross annual pay
- Business birth-to-death ratio
- Insolvency rate
The final index scores have a scale that runs from 0 to 1. If a region had the highest score across all factors, it would achieve an index score of 1; and equally, if a region scored the worst across all factors, it would achieve an index score of 0.As these factors all have different units of measurement, the data is indexed to give a consistent measure of the regions’ performance across the different attributes. An overall index for each region is then calculated by adding together all the measures, and the index scores are given an appropriate negative or positive weighting. The final step involves giving the scores a range of performance. This is calculated by summing all of the largest scores on each measure to give the highest score possible and then summing all of the lowest scores on each measure to give the lowest score possible.
Data on the number of millionaires within each UK region, used alongside the Prosperity Index, has been calculated by Wealth-X and incorporates factors including spending, investment and asset valuations from both public and proprietary sources.
Supplementing the Prosperity Index in the Prosperity Map research are data from Barclays’ proprietary data source, Barclays Local Insights, with spotlights on income, consumer spending, SMEs and housing.