linguistic:paraphrasing, information:extraction
21st century

Ongoing regeneration combined with the hosting of internationally significant events has helped to re-purpose Liverpool as one of the most visited, tourist orientated, cities in the United Kingdom. City leaders are focussing on long-term strategies to grow the city's population and economy, while national government explores the continuous potential for devolution in the city.

In 2002, Queen Elizabeth II and Prince Philip, Duke of Edinburgh visited Liverpool to mark the Golden Jubilee. On speaking to an audience at Liverpool Town Hall, the Queen recognised Liverpool as "one of the most distinctive and energetic parts of the United Kingdom", and paid tribute to the city's "major orchestras, world-class museums and galleries". She also acknowledged Liverpool's bid to become the European Capital of Culture. To celebrate the Golden Jubilee of Elizabeth II in 2002, the conservation charity Plantlife organised a competition to choose county flowers; the sea-holly was Liverpool's final choice. The initiative was designed to highlight growing threats to the UK's flower species and also ask the public about which flowers best represented their county.

Capitalising on the popularity of 1960s rock groups, such as the Beatles, as well as the city's world-class art galleries, museums and landmarks, tourism and culture have become a significant factor in Liverpool's economy.

In 2004, property developer Grosvenor started the Paradise Project, a £920 million development based on Paradise Street. This produced one of the most significant changes to Liverpool's city centre since the post-war reconstruction. Renamed as ' Liverpool One,' the centre opened in May 2008.

In 2007, events and celebrations took place in honour of the 800th anniversary of the founding of the borough of Liverpool. Liverpool was designated as a joint European Capital of Culture for 2008. The celebrations included the erection of La Princesse, a large mechanical spider 20 metres high and weighing 37 tonnes, which represented the "eight legs" of Liverpool: honour, history, music, the Mersey, the ports, governance, sunshine and culture. La Princesse roamed the streets of the city during the festivities, and concluded by entering the Queensway Tunnel.

Spearheaded by the multi-billion- pound Liverpool ONE development, regeneration continued throughout the 2010s. Some of the most significant redevelopment projects included new buildings in the Commercial District, King's Dock, Mann Island, around Lime Street, the Baltic Triangle, RopeWalks, and Edge Lane.

Changes to Liverpool's governance took place in 2014. The local authority of Liverpool City Council decided to pool its power and resources with surrounding boroughs through the formation of the Liverpool City Region Combined Authority in a form of devolution. With a devolved budget granted by central government, the authority now oversees and invests in foremost strategic affairs throughout the Liverpool City Region, including major regeneration projects. The authority, along with Liverpool City Council itself, has embarked on long-term plans to grow the population and economy of the city.

By the 2020s, urban regeneration throughout the city continues. Liverpool Waters, a mixed-use development in the city's disused northern docklands, has been identified as one of the largest megaprojects in the UK's history. Everton's new stadium at Bramley-Moore Dock was regarded as the largest single-site private sector development in the United Kingdom at the time of construction.

Major events, business and political conferences regularly take place in the city and form an important part of the economy. In June 2014, Prime Minister David Cameron launched the International Festival for Business in Liverpool, the world's largest business event in 2014, and the largest in the UK since the Festival of Britain in 1951. The Labour Party has chosen Liverpool numerous times since the mid 2010s for their annual Labour Party Conference. Liverpool hosted the Eurovision Song Contest 2023.