New research commissioned by IFB 2016 reveals international and UK hotspots
- ksavrassov8
- 25 июн. 2015 г.
- 2 мин. чтения
Above: the report 'Beyond the City' is introducted by Sir Terry Leahy at the London Stock Exchange one year out from the start of IFB 2016
New research commissioned by the International Festival for Business (IFB) 2016, shows that some of the world's most developed cities have shrugged off the 2007-2008 financial crisis, while Britain looks set for a productivity and disposable income boom.
The research was carried out by Oxford Economics to give IFB 2016 organisers a better understanding of the national and international economic landscape. The report 'Beyond the City' was announced at the London Stock Exchange, on 24 June – one year out from the start of next year's International Festival for Business in Liverpool.
Internationally, the fastest growing cities in terms of employment growth over the past five years are identified as Dubai, Beijing, Sydney and Berlin, with growth now expected to slow in all except Dubai.
In the UK, 1.3 million new jobs are predicted as the country's international competitiveness and exports improve. This is slower than the rate of jobs growth in previous years.
The study analysed the performance of the UK economy and its local economies beyond London with a focus on manufacturing, energy and environment, professional services and digital and creative sectors.
The study also revealed:
530,000 new ‘knowledge economy’ jobs are forecast to be created over the next five years: 330,000 in professional services and 200,000 in digital & creative.
Watford will see the biggest growth in jobs by 2020 – rising by almost 9% in total.
Manufacturing productivity will rise by 15.5% in total over the next 5 years.
Rising productivity will raise the UK’s international competitiveness, particularly in manufacturing which will see a 35% rise in the value of its exports.
Wages will grow nationally but fastest in the South East, with Wokingham in Berkshire expected to see a 12.1% total rise by 2020, making it the best place to get a pay rise.
Britain’s second cities – including Manchester (3.8%), Birmingham (2.5%), and Liverpool (2.6%) – will experience faster employment growth than Paris (1.7%), Berlin (1%) and Tokyo (-0.2%) over the next five years
The full report is available by joining the IFB 2016 Business Club (which is free) at www.beyondthecity.co.uk Max Steinberg, Chair of the International Festival for Business, said: “It’s clear the economic recovery is about to turn another corner – with rising productivity driving a surge in disposable incomes and in our international competitiveness. “London is central to our economy, but this report makes it clear that Britain has productive and creative hotspots beyond the City that will make significant contributions to the country’s economy over the next five years. “At next year’s IFB festival we will celebrate Britain’s collective economic strengths, showcasing our capabilities to the world for three weeks of events and deal making, and this report makes it clear we have a great deal to offer.
“As a testament to the rise in confidence of British business, IFB 2016 today announces HSBC will become a main partner and DLA Piper, Heathrow, PwC, Siemens and Virgin Trains will become Festival Supporters.”
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