It is currently Fri Mar 29, 2024 6:51 am


Cardiff now 6th most prosperous UK city

if it's about Cardiff.. Sport, Entertainment, Transportation, Business, Development Projects, Leisure, Eating, Drinking, Nightlife, Shopping, Train Spotting! etc.. then we want it here!
  • Author
  • Message
Offline

Ben In London

  • Posts: 107
  • Joined: Wed Jul 16, 2014 10:01 am

Cardiff now 6th most prosperous UK city

PostTue Aug 30, 2016 10:26 am

http://www.walesonline.co.uk/business/b ... g-11814719


According to the report Cardiff is now the sixth most prosperous UK city, per person.

The key stats are:

A 12% rise in turnover for small and medium-size businesses
GDP per capital up 9.7%
a 10% rise in the number of businesses founded


Eileen Cronin, regional Director, Wales region, Barclays Wealth and Investment Management, said: “It is very encouraging to see that prosperity in Wales is on an upwards trajectory, with the region’s entrepreneurial workforce playing a vital part in supporting our growth.

“The fact that Cardiff’s SMEs are now growing at the same rate as those in London demonstrates that we are on course to compete with the capital when it comes to providing the right conditions to start and grow a successful business and drive prosperity more widely.

“We can feel confident that these signs of development show that not only is Wales still ‘open for business’, but that we also have a really important role to play in the prosperity of the UK as a whole.”


Enterprise academic Professor Dylan Jones-Evans said the rise of one position for Wales and the strong performance of Cardiff in the city analysis, was encouraging.

He added: “However, it will need all our cities, with Swansea and Newport alongside Cardiff, firing on all cylinders it we are to significantly improve the economic competitive against the UK average.

“Although on the key GVA per head measure Wales has been one of the best performing economies outside of the south-east of England in recent years, things can be better.

“Cardiff, can and is raising the bar, “There are fantastic established businesses in the city, such a IQE in technology, Admiral in financial services and family-owned brewing and hospitality firm SA Brain & Co which recently received an outstanding achievement awards at the Cardiff Business Awards.”

Prof Jones said that for start-up firms, despite the fact that many will fail - which is also the case globally - it was important not just in Cardiff, but the whole of Wales, to create the right environment for them to flourish.


Image
Offline

neukreuz

  • Posts: 25
  • Joined: Sun May 03, 2015 8:22 pm

Re: Cardiff now 6th most prosperous UK city

PostTue Aug 30, 2016 1:19 pm

I hope I haven't missed something, otherwise I'm going to feel like a fool, but surely Cardiff is only the sixth wealthiest of those measured? If they had been measured, cities like Edinburgh, York, Oxford and (possibly) Glasgow would have ranked wealthier.

Anyway, there's no doubt that Cardiff is doing alright at the moment and that's something to celebrate, especially when we think what the city was like just twenty years ago. That said, I'm seeing an increasing divide in wealth, lifestyle and culture between Cardiff and its hinterland. The Valleys, Newport and Barry are still very poor in parts, and I can't think of another British metro area with such high levels of deprivation as this. Newcastle, perhaps? I live in a place called Nelson, just up the A470 from Pontypridd; the place is a bit of an anomaly for the Valleys in being relatively wealthy, but venture to nearby Treharris, over to the Rhondda or further up the Rhymney, Merthyr and Cynon valleys, and the number of towns and people who seem simply to have been left behind is a disgrace. Still, I suppose it's a beautiful area to be poor in!
Offline

Ben In London

  • Posts: 107
  • Joined: Wed Jul 16, 2014 10:01 am

Re: Cardiff now 6th most prosperous UK city

PostTue Aug 30, 2016 2:08 pm

It wasn't purely dictated by wealth. They had a number of factors taken into account.

Median household wealth
GDP per capita
Unemployment rates
Average weekly household expenditure
Business birth rate to death rates
Households giving to charity
Mean gross annual pay
Mean number of paid hours per week
Business insolvency rates
Mean number of paid hours per week
Proportion of pupils with A* to C GSCE grades

Return to Cardiff Wales Map forum

Who is online

Users browsing this forum: No registered users and 75 guests