Economy of Southampton

West Quay site resulted in a new store, opened on 12 February 2009, for Swedish home products retailer IKEA. Marlands is a smaller shopping centre, built in the 1990s and located close to the northern side of WestQuay. Southampton currently has two disused shopping centres: the 1970s Eaststreet mall, and the 1980s Bargate centre. Neither of these were ever commercially successful; the former has been earmarked for redevelopment as a Morrison's supermarket, while the future of the latter is uncertain. There is also the East Street area which has been designated for speciality shopping, with the aim of promoting smaller retailers, alongside the chain store Debenhams. In 2007, Southampton was ranked 13th for shopping in the UK.

Southampton's strong economy is promoting redevelopment, and major projects are proposed, including the city's first skyscrapers on the waterfront. The three towers proposed will stand 23 storeys high and will be surrounded by smaller apartment blocks, office blocks and shops. There are also plans for a 15-storey hotel at the Ocean Village marina, and a 21-storey hotel on the north eastern corner of the city centre, as part of a £100m development.

According to 2004 figures, Southampton contributes around £4.2 bn to the regional economy annually. The vast majority of this is from the service sector, with the remainder coming from industry in the city. This figure has almost doubled since 1995