Cardiff’s economy has become more diverse moving away from heavy industry to services and knowledge driven sectors. Supported by a large and skilled labour market, the city is now one of the most competitive locations in the UK for skilled service sector businesses. In addition to the knowledge sector, the city is also home to various advanced manufacturing sectors – linking with local Universities, a lot of money has been invested in delivering world-class research.
Today, around 200,000 people are employed in the city and over 600,000 in the wider city region. Of this, over 50,000 people in Cardiff and over 100,000 in the city-region are employed in financial and professional services. The city also employs over 20,000 people in education and almost 30,000 in health care. An expanding creative cluster is home to around 10,000 people in the city and over 25,000 in the city-region.
The key sectors in the city – with both significant clusters of activity and capacity for growth – include, Finance and Professional Services, Creative Industries, Life Sciences as well as Advanced Manufacturing.
These sectors benefit from Cardiff Council and the Welsh Government support, as well as benefiting from a workforce stemming from the city’s universities.
According to the Hometrack UK, property values in the Welsh Capital, Cardiff grew by 7.2% in 2016 whilst figures in London were at 7.3% growth. There is still a significant difference in average property prices where an average house price in London was £484,000 whilst average house prices in Cardiff are £195,000.
Cardiff is in every sense a capital city. Young, fast growing and transformational, the capital of Wales has an enviable reputation for its connected businesses community, international sports venues, cutting-edge media and a lifestyle that ranks among the best in Europe.
In 2012 Cardiff (0.90) had the highest jobs density (defined as the total number of filled jobs in an area divided by the resident population aged 16–64 of that area) of the ten local authorities in South East Wales.
The Manpower Employment Outlook Survey is based on responses from 2,100 UK employers and found Cardiff is the fastest paced jobs market in Wales.
Going into the second quarter of 2015, the national Seasonally Adjusted Net Employment Outlook remains at +6% for the third successive quarter, indicating that the UK jobs market continues to plot a steadily optimistic course.
These regions are big hubs for the utilities sector, in which the Outlook for jobs has risen to +18%, its highest level for eight years.
20.4% of employees in Cardiff is based in the distribution, hotels and restaurants sector, highlighting the growing retail and tourism industries in the city. A major £675 million regeneration programme for Cardiff’s St. David’s Centre was carried out between 2006 and 2009 which provides a total of 1,400,000 square feet (130,000 m2) of shopping space, making it one of the largest shopping centres in the United Kingdom.
Cardiff has above average levels of employment in the financial services sector in comparison with Wales and Great Britain as a whole. The city has above average representation in sectors such as financial services, the provision of call centres, TV and film, and the manufacture of pharmaceutical preparations. Employment growth sectors in Cardiff have, to an extent, mirrored national trends, with particularly high levels of growth in construction, distribution, hotels and restaurants, transport and communications, banking, finance and insurance, and public administration, education and health.
Cardiff is closer than you think. With outstanding rail, road and air infrastructure, Cardiff connects with the rest of the UK quickly and effortlessly. Fewer than two hours from London, with exceptional transport and super-fast broadband, Cardiff is one of Europe’s top-connected and most competitive destinations.
Cardiff is on the M4, providing a direct route to London and the South East. The M50 and M5 provide fast links to the Midlands and the North of England.
Trains link most main cities with Cardiff. The journey between London Paddington and Cardiff is under 2 hours and leaves every 30 minutes. This is anticipated to decrease to one hour forty minutes by 2019. Cardiff also benefits from an 89 station urban rail network which will benefit from over £500m investment over the next five years.
Cardiff International Airport has scheduled services from many cities in the UK and Europe such as Amsterdam, Paris and Zurich.