Skövde City Center Sees Impressive 7% Revenue Growth in 2024 Cityindex Report
The latest Cityindex report for 2024 reveals exciting economic developments for Skövde’s city center, showing a significant 7% increase in total sales during 2023. This growth outpaces the national average and other major cities in Sweden.
Key Highlights of the Report
- Total sales (retail, restaurant, hotel) increased by 7% in 2023
- Compared to 3% growth in other major cities and 4% nationwide
- Grocery retail saw the most substantial increase
- Clothing retail in Skövde grew while other cities experienced declines
Expert Insights
“Cityindex is a way to assess the health of our city center, and it’s delightful to see we continue a positive trend after the challenging pandemic. This is proof that we have a living city center with a mix of visitor-driving businesses. It’s particularly exciting that retail is increasing in both turnover and number of employees. The notion that city centers are dying could not be more wrong, as clearly shown in this report,” says Emma Edqvist, destination developer at Skövde Citysamverkan/Next Skövde.
Economic Performance
Skövde demonstrated impressive economic resilience:
- City center sales grew more than overall city trade (7% vs. 6%)
- Strong buying power from external visitors
- Trade index of 126 (over 100 indicates incoming trade power)
- Comparative trade indices: Borås at 102, Jönköping at 118
Future Development
“For Skövde’s future development, it’s crucial that our city center continues to grow positively. Remaining strong as a trading city is vital for Skövde’s continued future development,” says Kenneth Johansson, Business Development Manager in Skövde municipality.
About Cityindex
Cityindex is a national report describing revenue development for retail, restaurants, hotels, and commercial services across Sweden’s 104 city centers. The report is a collaboration between Fastighetsägarna and HUI Research.
Source: Original Mynewsdesk Article
