Foreign investments in the city of Manchester has consistently been growing even with the controversial Brexit vote, which was supposed to pull all economies in down. The city did feel shaken up but was able to recover quickly through its foreign direct investments. We are now looking at the city’s growth to be more than at least 1.5 percent, but at a slower rate following the Brexit vote.
Why Foreign Investors Invest in Manchester
Economic numbers in Manchester have never failed to be attractive to foreign investors. Its growth is driven by a diverse industry and sector base ranging from health innovation to technology. Manchester’s location is also set in a strategic place, wherein it is at the center of the Northern Powerhouse and is a gateway to these cities economically, geographically, and politically.
The interests collated from these foreign investments give tremendous profit in the years to come. Manchester is set to create a lot of infrastructures and technology breakthroughs in the near future. Breaking into an area code of a 0161 number–one of the most powerful cities in the world opens a huge potential to investors. In fact, strategic foreign investors–60 percent first-time investors in the United Kingdom have called dibs into funding 70 projects in Greater Manchester. These numbers are a validation that the city shows a lot of potential in economic growth, that foreigners are excited to ride this movement to feel the benefits of the city’s growth in all sectors.
Economic growth in the city of Manchester will continue to have a steady and stable growth in the following years, especially with the help of the Northern Powerhouse. The Northern Powerhouse is a proposal that builds and boosts economic growth in the core cities in the North of England, specifically Manchester, Liverpool, Newcastle, Hull, Leeds, and Sheffield. These cities are looking into a creating powerful economy by working with one another.
Northern Powerhouse is a government coalition wherein they actively seek inward investment to fund the cities’ transportation, culture, skills, and innovation. With Northern Powerhouse centralizing foreign investments, budgets are fairly allocated to help productiveness of all sectors–boosting returns and profit for a steadier economy. With this, North of England is set to become more powerful economically in the following years.
Future of Manchester Economy
With Northern Powerhouse backing up Manchester Economy, we are sure that this city’s economy will never plunge, instead, it would always work its way upwards. The future holds bright for Manchester, with its elected leaders setting short term and long term goals for transportation and more infrastructures that would bring thousands of employment and would be surely attractive to foreign investors. If you are looking into investing, or simply opening a business in Manchester, now is the right time to do so. In the coming years, it would be hard to get yourself in the market, as it would surely be too in demand.