HSBC's historic move to shift its UK headquarters from London to Birmingham is expected to boost the city by £121 million a year.
Data from the Marketing Birmingham Regional Observatory suggests wealthy new jobs and higher spending will boost the city's economy by 0.5 per cent.
The Post revealed earlier today that Britain's biggest bank was moving its UK personal and business operation to Two Arena Central in the biggest inward investment deal the city has seen in over a decade.
No less than £30 million more is expected to be generated by increased spending by HSBC employees at stores in the region.
Sir Albert Bore, leader of Birmingham City Council, said: "Birmingham is changing for the better. We are investing heavily in the city's future, with major projects including the redevelopment of Birmingham New Street station due to complete this year and other transformational schemes now underway.
"A local network of public and private sector partners are forming entrepreneurial partnerships, sharing ideas and implementing ambitious plans for the future of the city."