Liverpool has already attracted well over £2 billion ($3.5 billion) of EU grant aid over the last 15 years partly because of its designation as the poorest city in Europe. These earlier grants have already made a significant difference to cleaning up the city centre but additional funding is seen as necessary to create the impetus for Liverpool to compete as a retail and tourist destination on a par with other major European cities.
The success of the Liverpool bid was partly due to its broad cultural appeal as a city with more listed buildings than anywhere outside of London, its popular culture which includes the home of the Beatles and a leading football city, and its multi-ethnic character. The city has the oldest Chinese population in Europe and the council has already invested heavily in regenerating the Chinese quarter.
Liverpool's formal designation as European City of Culture, which simply requires confirmation by the EU, is expected to spark even further expansion of the city's hotel, restaurant and retail facilities.
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