Belfast, the largest city in Northern Ireland, is emerging as one of the most attractive locations worth investing in. Recently, there has been a major flow of investment in Belfast, which has brought a different kind of excitement in its landscape. From being a historical location to being one of the hottest weekend destinations in Europe, Belfast has surely come a long way. With key developments, such as the establishment of Odyssey Leisure and excellent conference facilities facing the Waterfront, taking place in the vicinity of Lagan River in the last 10 years, Belfast has a lot in store for investors.
What’s so attractive in Belfast
As it is the capital of Northern Ireland, Belfast is known as the economic and political centre of the country. The economy of Belfast is the fifth largest growing regional economy in the entire United Kingdom. It is endowed with major transportation facilities. It has two airports, a sophisticated ICT infrastructure, two universities and the largest port in Ireland.
With so many transformations occurring in the recent past, Belfast is now a confident and flourishing city where businesses have a chance to prosper as more people are now flocking to the city to work, live, visit, shop and even play.
Sectors to look at in Belfast
Belfast has an accomplished record of bringing in innovations to many diverse fields. Currently, many business sectors are on the verge of prospering in Belfast. These sectors mainly include:
Financial Services: Whether in front office or back office, Belfast has loads of opportunities for businesses to grow, enhance competition and provide proper customer service. The main attraction for this sector is a highly skilled workforce coupled with its magnificent telecom infrastructure and easily available alluring property solutions.
ICT: With key research taking place in the field of electronic communications and Information Technology in Belfast, it has become the main location for this sector. The operating costs in Belfast are as low as 32% as the national levels and 35% from that of the locations in the U.S., thus making Belfast a preferred destination for the ICT sector.
Life Sciences and Biotechnology: With some of the major research and product developments taking place in Belfast, it has become the prime location for investing in the entire world. There are already 50 companies playing a part in the life sciences arena, which has shown huge growth in the past few years.
Retail and Leisure: The retail industry is at the core of new master plans for Belfast. According to a survey, Belfast is the fifth best place in the U.K. for retail conditions. For the regeneration of Belfast’s city centre, there are three major schemes in the pipeline, which will be fully complete in the coming three years. Upcoming massive projects such as 111,483 sq m of new retail space and a 300 million pound Victoria Square Development, Belfast is surely the place to be for the retail industry.
With so many supporting projects on the line, an acute infrastructure and a highly skilled workforce, Belfast is one of the cities in United Kingdom which investors cannot afford to overlook.