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Business and the Economy The main areas for economic & technological development in Wales as reviewed by the Welsh Government.

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Presentation on theme: "Business and the Economy The main areas for economic & technological development in Wales as reviewed by the Welsh Government."— Presentation transcript:

1 Business and the Economy The main areas for economic & technological development in Wales as reviewed by the Welsh Government

2 Discussion What were the traditional industries in Wales?

3 Discussion What has happened to these industries?

4 The Government now has a regeneration framework The Welsh Government’s vision is for everyone in Wales “to live in well-connected vibrant, viable and sustainable communities with a strong local economy and good quality of life”. to get the best out of every pound spent by the Welsh Government. To invest in targeted areas to create and support growth in town centres and coastal communities. To regenerate areas which were once thriving.

5 Task 1 ctor/?lang=en Using the link above (and the following slides) create a slide showing the 9 business sectors the Welsh government is targeting to enable economic & technological development Include on your diagram a brief description of each sector and examples. Print off your slide

6 Creative Sector What is the Creative Industry sector? Industries which have their origin in individual creativity, skill and talent What does the Creative Industries sector include? Advertising Architecture Crafts Design Designer fashion Digital and entertainment media Film, video and photography Publishing Software and electronic publishing Television and radio Music and visual and performing arts In Wales, the sector provides employment for more than 30,000 people in over 4,200 enterprises and generates over £1.8bn annual turnover. The Government goal is to ensure that Wales advances its competitive position internationally

7 ICT Sector ICT encourages productivity and competiveness across the economy. What is the ICT sector? Global and dynamic. Designs, develops and commercialises leading edge technologies. Examples includes a wide range of companies from blue-chip corporations to innovative Small and Medium Enterprises IT services Software Telecommunications Electronics The Government believe that a strong ICT sector is critical to Wales. They support growth of the sector by: Supporting Welsh businesses Working closely with Universities Creating a world-class infrastructure Attract top class companies

8 Energy and Environment sector What is the Energy and Environment sector? Energy generation and use Renewable energy Emerging low carbon energy and technologies Environmental goods and services The Energy and Environment sector provides: Opportunities for creating jobs for a sustainable economy Delivering resource efficiency Driving forward the low carbon, low waste agenda

9 The sector has demonstrated above average growth at the UK level. There could be £50 billion of investments in low carbon electricity production in Wales over the next 10 to 15 years. Welsh environmental goods and services £4.1bn Employing well over 40,000 people. Wales is well placed to take a leading role in the transition to a low carbon, low waste economy

10 Advanced Materials and Manufacturing Sector What is the Advanced Materials and Manufacturing sector? Manufacturers are not just competing on cost but provide value by delivering products and services through excellent innovation and processes. The manufacturing base in Wales is diverse but has strengths in capacity and capability in the following sub-sectors: Aerospace and Defence Automotive Technologies Opto-Electronics Process Manufacturing Advanced Materials technological innovation. In the future high value products will focus on taking advantage of new materials such as composites, nanotechnology, optoelectronics, printable electronics and silicon electronics.

11 Life Sciences sector Employs 15,000 people Worth £1.3 billion pounds each year. Grown by over 19%. What industries does the Life Sciences sector include? Pharmaceutical Biotechnology Medical technology ( research, testing, manufacture and the provision of specialist services). Some Companies operating in Wales Siemens Healthcare Diagnostics – Gwynedd Biomet UK – Bridgend Norgine Ltd – Caerphilly GE Healthcare – Cardiff Penn Pharmaceuticals – Blaenau Gwent Regionally Important Life Sciences Companies Convatec Ltd – Tredegar Convatec Ltd) – Deeside Nice-Pak – Flint BTG (– Ceredigion A few companies have their Research and Development headquarters in Wales

12 The Financial and Professional Services Opportunities for profitable growth in the Financial and Professional Services. Financial Services sector Wales’ Financial Services sector is in retail banking and general insurance. There has been a growth in asset finance, wealth management, life insurance and pensions and advisory services. Financial Services companies in Wales Admiral Atradius Barclaycard Go Compare HSBC Lloyds Banking Group Money supermarket RBS Santander Professional Services companies in Wales ARUP Conduit Deloitte KPMG Eversheds Geldards Morgan Cole PWC Siemens Vertex Target Group

13 Tourism Why is tourism important to Wales? Tourists and visitors spend well over £12 million a day in Wales. Total annual tourism demand is around £4.7 billion. Some 68,700 jobs (6.1% of the total Welsh workforce) are directly supported by tourism. Examples are jobs in: Hotels Restaurants Bars Libraries Museums Sport 10.6 million overnight visits to Wales were made during % of these staying visits to Wales were made by UK residents 84% of all overnight expenditure in Wales. 878,000 visits by international visitors who spent £326 million during top countries of origin for international tourism to Wales in 2010 were the Republic of Ireland, France and Italy (Rugby perhaps!!!)

14 Construction Industry What is the Construction sector? 13,000 companies in construction Employing more than 130,000 people. Jobs include: Planners Architects Surveyors Building engineers Welsh Government Vision The growth of a dynamic construction ecosystem. An economically and environmentally sustainable industry Spend for the Construction sector is estimated at more than £2.3 billion per annum The sector contributes approximately 10% of Gross Domestic Product. (GDP) Sustainable Development The challenge of climate change requires a more sustainable approach to development Environmental and low carbon solutions for clients.This will enable social and community regeneration as well as business competitiveness.

15 Food & Farming sector What is the Food and Farming Sector ? The Food supply chain makes up approximately 18% of the total Welsh workforce Generated over £6 billion in ,515 local business units in the food and drink supply chain Employ approximately 230,000 people Direct farming employment in Wales is 70,000. “Food” includes producers, processors, retailers and consumers. Strategic Direction “Clear direction for the Welsh food industry to grow in a sustainable and profitable manner. Issues such as health, food culture and education, food security, environmental sustainability and community development will provide the basis for an integrated approach to food policy in Wales”

16 Task 2 hor/?lang=en Using the link above and the following slide Define what an anchor company is? Choose one business from the list on the slide and produce a slide naming the company and identifying the benefits to the Welsh economy. Include info on Location R & D Number of employees Product/service Sustainability information for the company. Print off your slide

17 Anchor Companies Examples of some anchor companies in Wales Airbus BA Wales Plc. Ford Motor Company GE Aircraft Engine Services Ltd Toyota Sharp Tata Steel Europe RWE Npower PLC Scottish and Southern Energy Wales and West Utilities Ltd Western Power Distribution Plc. GE Healthcare Norgine Limited RBS Penn Pharmaceutical Services Ltd Siemens Healthcare D Admiral Group PLC Principality Ltd British Telecommunications Plc. Cassidian Ltd General Dynamics UK Ltd International Rectifier Newport Pure Wafer Plc. Sony UK Technology Centre Control Techniques Drives Limited HSBC Moneysupermarket.com Group Plc. Dŵr Cymru : Welsh Water United Paper Mills Shotton Centrica Lloyds TSB Commercial Banking Tinopolis Plc.

18 Task 3 ctor/regionalcomp/?lang=en Using the link above define what a regionally important company is and produce a slide identifying the benefits to the local economy of one of these regionally important companies. Include information on the following if you can Location Number of employees Product/service Sustainability R & D Print off your slide

19 Task 4 y/help/enterprisezones/?lang=en Using the link above define what an enterprise zone is, their objectives and where they are located in Wales on a slide and print off

20 Some Interesting facts on technology Globalization accelerates the change of technology. Technology is now the forefront of the modern world creating new jobs. The timeline below shows the rapid transformation of how technology has accelerated within the last 20 years to years ago: Internet commercialized 15 years ago: first mobile phone with Internet connectivity 13 years ago: Google named the search engine of choice by PC magazine 10 years ago: Blackberry launched 7 years ago: Facebook launched 5 years ago: Twitter launched 4 years ago: iPhone, the first of the smart phones, introduced 3 years ago: Groupon introduced 1 year ago: 17 million smart tablets sold — estimated that million by 2014 Every 60 seconds (so it seems): new apps, tailored to users’ specific needs created


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