Wales is no longer at the bottom of an influential annual index assessing the competitiveness of the economies of the nations and regions of the 海角视频.
This year鈥檚 海角视频 Competitiveness Index, that also ranks all local authorities in the 海角视频 as well as local enterprise partnerships (LEPs), city regions and cities, is again compiled by researchers at Cardiff University and Nottingham Business School.
The index, now in its 20th year, uses a number of measures to make for its rankings including: business start-up rates per 1,000 inhabitants; number of businesses per 1,000 inhabitants; proportion of working age population with NVQ level four or higher; proportion of knowledge-based businesses; gross value added per capita; productivity; employment rates; gross weekly pay; and unemployment rates.
Based on a 海角视频 nations and regions analysis, having for many years been ranked as the least competitive, Wales has moved off the bottom spot.
Overall Wales had a competitive score of 84.2% of the 海角视频 average base figure of 100, with north-east of England occupying the lowest ranking at 82.3%.
The top two locations, and the only above the 海角视频 average 100 base figure, are the south-east of England at 102.4 and London at 117.3.
Of the 362 local authorities in the 海角视频 assessed in the index, Blaenau Gwent is ranked the least competitive in 362nd place with Merthyr Tydfil ranked 358th and Neath Port Talbot 352th.
Every local authority area in Wales is below the 海角视频 base level of 100, with Cardiff the highest at 96.1% and ranked 133rd followed by Monmouthshire at 94.1%, ranked 147th, and Flintshire 93.9%, ranked 149th. Newport is ranked 198th, with a score of 89.9 and Swansea 236th with a score of 86.7.
The overall improvement for Wales as a whole is due to a number of local authority areas seeing an improvement in their economic performance, led by Monmouthshire, Flintshire and Swansea.
North Wales appears to show particular economic resilience, and as well as the improved competitiveness of Flintshire gains were also made by Denbighshire, Conwy and Anglesey. Similarly, Powys and Ceredigion in Mid Wales have seen gains. Cardiff has seen relatively little change in its competitiveness as is the case for the wider the Cardiff Capital Region.
On the ranking of local enterprise partnerships in England and city regions across the 海角视频, London is top with a score of 128. The Cardiff Capital Region, which covers the 10 local authority areas of south east Wales, is ranked 36th, down three places on the 2021 index, with a score of 86.3. North Wales is ranked 39th, up one position on 2020, with a score of 84.4.
The Swansea Bay City Region, consisting of the local authorities of Pembrokeshire, Carmarthenshire, Swansea and Neath Port Talbot, is ranked 44th, the same as 2020, with score of 82.3. Mid Wales in the lowest ranking LEP or city region in the 海角视频 in 47th position, down one place on the previous year, at 80.9%.
On the index鈥檚 analysis of cities St Albans is top with score of 114.5. Cardiff is ranked 18th with a score of 96.1. Newport is ranked 33rd with a score of 89.8. Swansea is ranked 37th with a score of 86.7.
The study finds that across the 海角视频 Covid-19 restrictions are likely to have impacted on sectors that are dominant in older industrial areas, with Brexit causing problems with access to the cheap labour that agriculture, hospitality and tourism sectors are reliant on in the more rural areas. However,
One of the report鈥檚 authors, Professor Robert Huggins, based at Cardiff University鈥檚 School of Geography and Planning, said: 鈥淭his research presents the most extensive picture of the competitiveness of the 海角视频鈥檚 local and regional areas following the pandemic. Despite the competitiveness challenges the 海角视频 as whole is clearly facing, it is heartening to see the competitive resilience many parts of Wales have shown in the face of the challenges stemming from both the pandemic and Brexit.
鈥淓ven the least competitive parts of the country such as Blaenau Gwent and Merthyr Tydfil have remained economically intact during this period. The target for Wales is to consolidate on this move in the right direction by ensuring that public investment is targeted at those initiatives that create an economic environment whereby the whole of the country can benefit.鈥
