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Forming part of the English Core Cities Group, Manchester today is a centre of the arts, the media, higher education and commerce, factors all contributing to Manchester polling as the second city of the United Kingdom in 2002. In a poll of British business leaders published in 2006, Manchester was regarded as the best place in the UK to locate a business. A report commissioned by Manchester Partnership, published in 2007, showed Manchester to be the "fastest-growing city" economically. In the GaWC global city list, Manchester is ranked as a Gamma city. It is the third-most visited city in the United Kingdom by foreign visitors and the most visited in England outside London. Manchester was the host of the 2002 Commonwealth Games, and among its other sporting connections are its two Premier League football teams, Manchester United and Manchester City.

In January 2007, the independent Casino Advisory Panel awarded Manchester a licence to build the only supercasino in the UK to regenerate the Eastlands area of the city, but in March the House of Lords rejected the decision by three votes rendering previous House of Commons acceptance meaningless. This left the supercasino, and 14 other smaller concessions, in parliamentary limbo until a final decision was made. On 11 July 2007, a source close to the government declared the entire supercasino project "dead in the water". A member of the Manchester Chamber of Commerce professed himself "amazed and a bit shocked" and that "there has been an awful lot of time and money wasted". After a meeting with the Prime Minister, Manchester City Council issued a press release on 24 July 2007 stating that "contrary to some reports the door is not closed to a regional casino". The supercasino was officially declared dead in February 2008 with a compensation package described by the media as "rehashed plans, spin and empty promises."