BRIGHTON’S economic growth is expected to soar by the end of next year.

The Centre for Economics and Business Research (CEBR) predicts Brighton will leap 38 places in its league table of cities, moving from 43rd for economic output growth in 2021 to fifth place by the end of 2023.

The city could have a £300 million increase in its output, the equivalent of 2.3 per cent year on year.

Bryan Bletso, partner and head of international at Irwin Mitchell, a legal and financial service for who the league table was produced, said: “The report makes good reading for Brighton.

The Argus: Bryan BletsoBryan Bletso

“While job creation is not as high as the city would wish, an impressive economic recovery is a powerful consolation, and all the economic ingredients are in place for a sustainable, successful future.

“While cities like Brighton continue to dominate in the fastest growing industries, there is no suggestion this will change and the government will be keen to ensure levelling up does not mean levelling down in the South, when sustained growth is essential for a global Britain.”

The expected success has been attributed to “the cluster of tech businesses” in the area – a factor shared with the other top five cities for economic output growth.

It comes as Brighton could also see a “modest” improvement in job prospects, with 3,100 newly filled positions by the end of 2023, a 1.1 per cent growth since 2021.

The Argus: A £300 million increase in output is expected during 2023 in BrightonA £300 million increase in output is expected during 2023 in Brighton

Josie Dent, managing economist at CEBR and one of the report’s authors, said: “The economy is still expected to face some turbulence between now and the end of next year, notably through volatility in commodity prices, supply chain pressures, and the emerging cost-of-living crisis domestically.

“All of these factors are set to impact growth both at the aggregate level and, to a varying extent, within individual cities.”

The report compares data between quarter four of 2021, and projections for quarter four of 2023.