Wales is a part of the United Kingdom. It has been highly industrialized since ancient times and during the Industrial Revolution period. It is rich in mineral resources. Since the 1970s, the Welsh economy has undergone tremendous changes and has been successful in reigning in huge chunks of Foreign Direct Investment (FDI). It has now become an excellent location within the United Kingdom for business success.
Why invest in Wales?
The main essence of Wales lies in the advantages which investors can gain through its business environment. There are already a whopping 500 MNCs thriving in Wales. Here are some reasons why Wales is a hub for investors.
Business sectors to invest in Wales:
Defence and Aerospace: In Wales, investors can get easy access to top government ministers and various facilities which are mandatory for testing and developing technologies and a cumbersome environment which are key factors of the Defence and Aerospace industry.
Financial and Business Services: Building societies and banks dominate this sector in Wales. The size of this sector is surging and needs to be explored. Various global financial companies such as the HSBC, Zurich, TSB and others have already set up bases in Wales.
IT, Software and Communications: This sector is one of the UK's most cost-effective and the most vibrant sectors in terms of competition. More than 400 businesses are already thriving in this sector in Wales. It has also seen a massive inflow of foreign capital which has increased the global competitiveness of Wales in the IT sector.
Automotive: Wales has a well established automotive industry with research excellence and manufacturing skills which are mandatory for the automotive industry. Wales has also set its eyes towards future technologies and is now being identified as a master in developing low-emissions technology which is the future of the automotive industry.
A world-class infrastructure, pervasive investment opportunities and several investor friendly initiatives taken by the government, make Wales a desired destination for investing.