This post is an excerpt from Skift’s 2018 report How UK Cities Excel at Hosting Conferences in Advanced and Creative Industries, in partnership with VisitBritain. Download the full report for free here.
Advanced manufacturing productivity grew three times faster than the rest of the UK’s economy during the decade from 2005 through 2015. The sector consists of more than 90,000 companies, employing 2.7 million people across the UK. Advanced manufacturing contributes over US $216 billion to the UK’s economy, making it 9th in the global economy, and it accounts for almost 70 percent of the total spend across all industries. The UK is especially competitive in metrology (science of measurement), and it’s growing rapidly in 3D printing, advanced composite materials, sensors and micro-electronics.
In the automotive sector, the UK is one of the world’s most attractive destinations for foreign investment, with more than US $20 billion invested in Britain’s auto industry between 2012 and 2015. In 2009, the UK Government and the UK automotive industry set up a partnership called the Automotive Council to grow the UK auto sector. This is now seen internationally as the gold standard for government and industry cooperation, and has led to a huge expansion of both car manufacturing and automotive research and development in the UK. The UK is the largest ultra low emission vehicle (ULEV) market in the EU with over 110,000 ULEVs on the road, and it has the largest network of rapid charging points for electric vehicles in Europe. In 2016, one in five electric cars sold in Europe was made in the UK.
Looking ahead, the government is investing heavily in Connected and Autonomous Vehicles (CAVs), creating a US $267 million fund administered by the Centre for Connected and Autonomous Vehicles, which is jointly funded by the industry and the UK Government. The UK offers substantial advantages in CAV technology. According to Eurostat, 40 percent of all large European software companies are based in the UK, stating, “With a history of early adoption of technology from home PCs to Internet shopping, the UK has all the right building blocks to develop CAVs.”
Download our full report to learn about the destination developments happening in the UK in the advanced manufacturing and automotive sectors.