Six months after the city concluded its Capital of Culture celebrations, Arts Editor Laura Davis takes stock of the benefits

APART from the odd superlambanana peeking out of an office window and a promotional banner on a building next to the Empire theatre, is there a great deal of physical evidence to suggest that, just six months ago, Liverpool was the most important cultural city in Europe?

Sure, there’s an extra one million sq ft of retail space and lots of swanky new buildings in Liverpool One, as well as a new museum taking shape just down the river from an impressive Arena – but, as regeneration experts are fond of telling us, those would have been constructed anyway.

Is the city experiencing its promised rebirth and revitalised spirit? Are those who flocked to its cultural institutions making repeat visits in 2009? Or is Liverpool suffering from the much afeared “hangover” effect of such an eventful year of celebrations?

The situation is better than it could be, according to Prof Peter Stoney, business expert at the University of Liverpool’s management school, who believes the city’s Capital of Culture status has softened the blow of the nationwide recession. He said: “It’s been good timing. It’s mitigated some of the bad effects.

“You’ve got to view the Culture effect as being positive in recessionary times – it’s an oasis in the desert of recession.”

Prof Stoney believes the Liverpool One development “was completed just in the nick of time” and may have been abandoned if it had not been pushed through to meet its 2008 deadline.

In this and other major developments, such as the new Museum of Liverpool at the Pier Head and the planned regeneration of the Everyman Theatre, Capital of Culture has acted as a catalyst.

Unfortunately, the anticipated impact of 2008, in terms of inward investment and visitor figures, is likely to be hit by the ongoing economic crisis. Merseyside unemployment figures are expected to reach 60,000 by the end of the year, and this will undoubtedly have a detrimental effect on the tourism sector.

However, there is evidence of a continuing boost to the local economy, including the commercial property sector, added Prof Stoney.

He said: “Companies such as the bank, Coutts, are relocating here that otherwise wouldn’t have because they know their employees are going to be living in an environment which is now far more agreeable than it used to be 20-40 years ago.”

Prof Stoney also believes an improved cultural offering and quality of life will also help tackle Liverpool’s historical problem of a draining population – which has halved to around 430,000 in the past 50 years, but is now levelling off.

The impact of this “demonstration effect” of what Liverpool has to offer its residents can be seen in the city’s changing reputation, argues Neil Peterson, international and income generation manager for the city council’s culture body, Culture Liverpool.

“Liverpool’s reach has become very influential,” he said.

“We have built up very sophisticated international networks, and delegates from the city are being asked to attend major conferences around Europe to talk about our experience as Capital of Culture.

“At a European level, this places us in the category of successful cities that are going places.”

More than 100 delegations visited Liverpool in 2008, generating an estimated £500,000 boost to the local economy as well as helping to spread the city’s reputation worldwide.