Economic factors attributing Swindon being ranked as No. 7 in UK Cities

According to the most recent Centre for Cities Outlook Report, Swindon ranks 7th as the UK’s best performing cities and towns. Climbing three places since the previous year, here we’ll look at what is driving the economic improvements in the town.

Innovation leads the way

One of the main factors driving Swindon’s growth, is innovation. The town is the UK’s 9^th fastest growing digital workforce, with businesses leading the way in terms of innovation. It is this innovative approach which gives the town a competitive edge when faced with a changing economy.

It boasts a healthy selection of both large and small businesses, with many major corporations choosing to base their headquarters in the thriving town. It continually draws in big investors, boosting the employment sector and helping to encourage online trading, as you can see through companies like OANDA.  

Swindon has a long history of innovation and it certainly shows no real signs of slowing down.

Lowest percentage of working age residents with no qualifications

Due to the ample business opportunities, Swindon also boasts one of the lowest percentages of working age residents with no qualifications. It’s an educated town with highly-skilled workers; helping to continuously boost the economy.

Even the town’s older residents are highly qualified. It came 2^nd place for residents aged 50-64 who have no formal qualifications. So, in terms of qualified residents, the town has historically managed to produce a thriving, qualified workforce.

Excellent transportation links

Further adding to the town’s appeal, is its excellent transportation links. It lies just 45 minutes by train from the UK’s capital and is one hour away from both Bristol and Heathrow airports. It is for this reason many companies have chosen to base their operations in Swindon. The cost of living is much lower in the town, compared to London, making it an ideal commuter base.

The cost of housing is also much more affordable than nearby major cities, further tempting commuters into the area. So, when you look at economic factors like these, it is clear to see why the town’s economy is thriving. It also plays a large role in manufacturing and construction, contributing a staggering £1 billion into the UK economy, thanks to major players such as Honda, Patheon and Mini.

Overall, when you take into account the rate of innovation, its highly skilled residents and excellent transportation links, it’s easy to see why Swindon is listed as one of the top 10 economic towns and cities. As the town continues to draw in major investors, it is only likely to further boost its rankings up the economic ladder in the years to come.