Look at South-West England

The south-west is the largest English region (spanning 350 kilometres from Land’s End to north Gloucestershire) with over 18 per cent of England’s land area (24,000 sq km) and the highest percentage (75 per cent) of land classified as rural of any English region. The region has a population of over five million (10 per cent of the UK population), the fastest-growing population of any English region (12 per cent increase since 1996), with 54 per cent of people living in rural areas. The population increase is largely due to people moving into the region.

The south-west has one of the smaller economies of the English regions, with a gross value added (GVA) of £75 billion, and accounts for over 9 per cent of the total GVA for England. Labour costs are 5 per cent below the national average, with the business survival rate being above it, and the average daily commute below it. Four of the region’s six counties top the UK chart as ‘the best in which to live and work’.

Employment rates are high, with 79 per cent of the working-age population being economically active. This masks a north/south variation ranging from Bournemouth’s rate of 75 per cent to 86 per cent in Swindon. Being able to travel to training, jobs and services is a major regional issue, particularly for the more remote rural areas in the south and west. However, the region generally has a good communications infrastructure, including modern airports, top-quality road, rail and sea links, and high-speed broadband access.

The south-west enjoys one of the most diversified regional economies in the United Kingdom. Crucial sectors are:

• advanced engineering (aerospace, automotive and measuring instruments) with 60,000 employees, generating more than £3 billion
• food and drink, consisting of over 3,000 food and drink producers (and a very strong organic sector), and 1.8 million hectares of agricultural land in a very mild climate
• ICT, employing 70,000 people and producing £2.5 billion GVA from wireless communications, optoelectronics, semiconductors, software and information storage
• micro and nano technologies being developed through university research departments in areas like silicon and compound semiconductors, e-beam lithography and electron microscopy
• marine, offering 700 miles of coastline with natural harbours and waterside facilities that are home to over 32,000 people in 2,700 companies generating an annual turnover of over £1.3 billion
• financial services, with nearly 250,000 people employed in banking, insurance, pensions and other financial services sectors, centred on the Bristol area
• biotechnology, with 40 to 50 companies undertaking core research and development, 90 to 100 companies supporting the sector, and 10 to 15 developing companies
• creative industries, contributing nearly £2 billion in GVA from just under £10 billion revenues and employing just under 100,000 people, many in media clusters
• environmental technologies, which are expanding rapidly with 1,300 enterprises employing 20,000-plus people, contributing £1.3 billion to the economy.

There are considerable disparities in GVA, income per capita and employment. In broad terms, Bristol, Bath, north Somerset, Gloucestershire, Wiltshire and Dorset have more dynamic economies than Cornwall and the Isles of Scilly, and Devon. The relationships between geographical location and wealth creation and productivity are to some extent determined by access to infrastructure and the rest of the UK economy, the location of major centres of economic activity and innovation.

The region has 13 higher education institutes (27 per cent of the region’s residents are qualified to degree standard or above, and it has a student population of nearly 350,000), relatively low crime and high life expectancy. The region’s culture and sporting facilities are rich and diverse, while its history, geography and wildlife are some of the best in the UK. Urgent action is required, however, to provide new homes, affordable housing, and improved education and health services.

Opportunities and skills shortages

Areas of opportunity and skills shortage mirror those in the rest of the UK. Engineering of all types offers a wide range of opportunities, including the rail and aero sectors, while there are good job prospects in driving, transport and road haulage – particularly with another qualification, like Hazmat. The construction industry and railways offer employment, although wages may be disappointing.

Employer news

There are over 1,200 foreign-owned companies in the region. The business culture and environment have persuaded global market leaders (including JP Morgan Chase, Hewlett-Packard, Takao, Orange, Honda, Airbus, Tripos Receptor Research, Wrigleys and Luhrs Marine) to establish European and globally significant operations here.

Salaries

A rough guide to annual salaries is given below. This is inevitably very general and there will be variations between industries and also in various parts of the region.

Manual £10,000 to £15,000

Semi-skilled and supervisory £13,000 to £20,000

Skilled £16,000 to £23,000

Managerial £20,000 to £35,000

Executive £35,000 and upwards

House price guide

The following prices are a rough guide only to property prices and are liable to overnight change as financial factors in the country as well as in the region affect housing.

2-bed flat 2-bed terrace 3-bed semi 4-bed detached

City £160,000 £170,000 £200,000 £330,000

Town £140,000 £150,000 £180,000 £300,000

Country £120,000 £130,000 £160,000 £270,000