Gatwick Diamond could feature high in UK economic rankings

The Gatwick Diamond could rank high against other UK regions, it seems, from the recent national Centre for Cities report.

The annual report ranks UK locations against each other for a variety of economic measures.

On exports, while goods exports tended to dominate in cities in the North and Midlands southern cities tended to have a much greater reliance on services.

For services exports per job (i.e. the total amount of services sold abroad
relative to all jobs in a city), London topped the charts, unsurprisingly, with £17710, However Brighton ranked third at £11620, and Crawley came in sixth, out of around 70 locations, at £10910.

When this data was overlaid with productivity data – Crawley ranked 8th for Gross Value Added (GVA) per worker – to produce a chart with four quadrants Crawley was one of 12 locations which was above average for both – the high performance quadrant.

Crawley ranked third for the highest increase in the number of business start-ups with 29 percent, and on patent data, widely used to measure innovation,  Crawley ranked 7th with 55.8 applications per 100,000 population.

On employment rate, Crawley ranked highest in the UK with 84.9% in work, up from 74.8% for the previous year, and remains the UK location with the highest ration of pricate sector jobs to public sector ones, at 7.2:1, although it was just 54th in the index of growth rate in provate sector jobs.

It also made the top ten (7th) for the lowest proportion os working age population with no formal qualifications, coming in with 4.9%, and for average wages per week, where it was third with £634.

These rankings are interesting, but do not give a broad picture of how the Gatwick Diamond perfoms. Few other business locations are ranked by Centre for Cities as they only look at around 70 UK-wide.

However, the Gatwick Diamond Initiative has commissioned a review, by Centre for Cities, which will do just that. This report will be launched at this year’s Gatwick Diamond Economic Growth Forum on June 8th, 2017.

Another great reason to book your place!