Updated: Aug 8, 2018
"Some people may be asking why EDC would choose the U.K. at this time. The answer is simple: Where some see risk and volatility after the Brexit vote, EDC sees opportunity"
Mairead Lavery, EDC's senior vice-president of business development.
The United Kingdom's economy is at a critical juncture. Leaving the EU creates economic challenges that necessitate widespread policy change. But this also generates an opportunity to tackle some of the long-standing challenges which have resulted in the UK’s productivity lagging behind. Decisions made in the next year will have a lasting impact on the UK’s economic trajectory for years to come, and the economy will be more productive, more equitable and more environmentally sustainable.
The UK population is projected to increase by 9. 7 million over the next 25 years from an estimated 64. 6 million in mid-201 4 to 74. 3 million in mid-2039. Economic activity in the UK is skewed towards London and the South East. These areas account for nearly 40% of total GVA and 33% of firms, but just 27% of the population.
London is the densest area, with 1 , 464 businesses per 1 0, 000 people, compared to just 679 in the North East. London and the South East are the most productive regions and also have the highest employment shares. The North West has low average productivity despite being the third largest employer.
The UK is a world-leading financial centre, and financial services are an important source of jobs, tax revenues and exports.