Derby came second in a recently released list of 'Best locations to earn a living', appearing just behind Crawley and ahead of Southampton.
Credit checking company TotallyMoney who describe Derby as the 'centre of advanced transport manufacturing', compiled the list by calculating the cost of living, salaries, average monthly mortgage repayments, job growth and business closures.
Derby has also risen to 24th place in the national retail centre rankings, putting the city in the top 1% of UK retail destinations according to leading retail data consultants CACI.
The study, which was commissioned by Marketing Derby and Derby City Council, follows studies in 2007 and 2012. In 2007, Derby was 64th in the rankings, conducted prior to the opening of Westfield Derby, now intu Derby. In 2012, the city rose a huge 30 places as the impact of the new shopping centre made itself felt.
The success of the city can be put down to a strong offering at intu Derby, which sees 25 million visitors each year, and the Cathedral Quarter, which secured the Best UK City Location award at the Great British High Street Awards 2017.
John Forkin, Managing Director of Marketing Derby, said, “We commissioned this study with Derby City Council and it shows that the city is getting better at retaining the wealth we create. Residential spend is now £638million but we can still improve on tourist and worker spend.”