Banking chiefs say tourism is helping North Wales beat the Brexit uncertainty that is affecting growth and investment in other parts of the 海角视频.
Business Live spoke to Martyn Kendrick, Lloyds鈥 regional director for North Wales, and Rob Cooke, area director for North Wales (SME Banking), about the economic performance of North Wales.
They said that unlike many parts of the 海角视频, where business confidence has been hit by the lack of clarity over Brexit, North Wales has a 鈥済ood story to tell鈥.
They said tourism was leading the way with the region鈥檚 added profile drawing in extra visitors at a time when the political uncertainty is encouraging more Brits to holiday in the 海角视频.
Mr Kendrick said: 鈥淥ur analysis has shown that current uncertainty is beginning to have a more pronounced impact on business confidence across the 海角视频 but we鈥檙e seeing a positive story in terms of investment in North Wales.
鈥淲e鈥檙e on course to meet the 拢1.1 billion lending pledge we made to Welsh businesses earlier this year which is, in part, down to a booming tourism sector.
鈥淣orth Wales has a diverse economy, and tourism is a sector that is doing really well.
鈥淲hen there is uncertainty, people stay closer to home, and North Wales is such an attractive place to visit.
鈥淚n comparison to other parts of the 海角视频, North Wales is doing well and there is a good story to tell.鈥
North Wales鈥檚 newly found place as Europe鈥檚 Capital of Adventure has also changed the demographic of those visiting while traditional resorts are also booming.
Mr Cooke said: 鈥淟ook at Llandudno 鈥 it is flourishing from our perspective; there are new owners coming in and existing owners upscaling.
鈥淭hen there are the adventure brands like Zip World and Surf Snowdonia who are helping bring younger聽people to North Wales.
鈥淚t is changing the demographic. Then, once people come, they often want to come back.
鈥淭here is now something for all generations in North Wales.
鈥淲hen I look at, say, Anglesey I can see it becoming the new Cornwall and Pembrokeshire.鈥
As well as tourism, tech and health care are also performing strongly, but Mr Kendrick said it is important that all sectors continue to invest in their business plans as they wait for the clouds of uncertainty to clear.
He added: 鈥淚n some sectors 鈥 manufacturing, for example 鈥 businesses are adopting a 鈥榳ait and see鈥 approach.
鈥淚n the long-term, it鈥檚 critical that businesses have the confidence to invest in growth and upskilling for the benefit of the Welsh economy.鈥
There are other great success stories, with Lloyds highlighting Net World Sports in Wrexham.
Mr Cooke said: 鈥淭heir growth has been stratospheric and they are employing a lot of young, tech-savvy people, bringing people to Wrexham who may not otherwise have been attracted.
鈥淭his is good news for the town and wider area.鈥
