One of the cradles of the industrial revolution, Yorkshire has an important and diverse manufacturing heritage as well as a rich tourism and natural heritage. The destination thus seduces a growing number of visitors, who come for a change of scenery and a wide range of activities, but also for business and MICE facilities. Indicators for the local hotel market are in the green and offer an encouraging outlook. Does it have what it takes to continue to attract investments, without suffering and perhaps even benefiting from “Brexit”?
Located in the North of England, on the North Sea, Yorkshire is the biggest region in Great Britain in terms of surface area. It is divided into four counties (North, South, West and East Yorkshire) and has a total of 5.3 million inhabitants, representing 8.4% of the population of the United Kingdom. With a PIB close to £21,700 per inhabitant in 2015, the region is just below the British average (£27,100), a legacy of its industrial pole. While the territory has gone through an important transition phase over the last couple of decades, when it shifted from an economy based on manufacturing to a predominantly service-oriented industry, the secondary sector remains important. Jobs for skilled workers represent 11.7% of its workforce, positioning the region in second place in Great Britain.
The region has several agglomerations that are the economic centers. The most important is Leeds, which is the second financial center in Great Britain after London, and thus relies on a dynamic tertiary sector. Commercial real estate projects that developed there in the last decade represent an investment of around £4 billion and the projects under development are estimated at £5.8 billion. Sheffield, another major agglomeration, has historically developed in the steel and silverware industries, and today it is also known for engineering and development in IT. Finally, port activity in Hull positions that city in fourth place in Northern Europe (each year the port handles more than 12m tons of cargo).
Hull will be the cultural capital of the United Kingdom in 2017 and will host the Turner Prize, which each year recognizes a contemporary artist under fifty years of age, who lives or works in Great Britan. The City of Lille will also reopen the Ferens Art Gallery this year after an investment of £70m. Finally, natural resources...
The region has several agglomerations that are the economic centers. The most important is Leeds, which is the second financial center in Great Britain after London, and thus relies on a dynamic tertiary sector. Commercial real estate projects that developed there in the last decade represent an investment of around £4 billion and the projects under development are estimated at £5.8 billion. Sheffield, another major agglomeration, has historically developed in the steel and silverware industries, and today it is also known for engineering and development in IT. Finally, port activity in Hull positions that city in fourth place in Northern Europe (each year the port handles more than 12m tons of cargo).
Hull will be the cultural capital of the United Kingdom in 2017 and will host the Turner Prize, which each year recognizes a contemporary artist under fifty years of age, who lives or works in Great Britan. The City of Lille will also reopen the Ferens Art Gallery this year after an investment of £70m. Finally, natural resources...
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