North Hampshire named the UK’s third most financially productive area by global fintech group Plus500
North Hampshire has been named the UK’s third most financially productive area.
New research carried out by global fintech group Plus500 found that North Hants came third behind two areas in London.
The study was carried out by analysing ONS data from 2004 to 2021 of gross value added (GVA) per hour worked in the UK.
GVA represents the value of goods and services produced in an area, industry, or sector of an economy, and is one of the most important indicators of regional economic performance.
North Hampshire was found to have £60.20 GVA per hour worked.
The research stated: “North Hampshire ranks third in this list; business in this area is thriving, with roots deeply set in its aerospace and defence history, Hampshire is now the epicentre of this dynamic sector and its vital supply chain.
“Several world-leading aerospace and defence businesses such as BAE Systems, Airbus, Lockheed Martin, Boeing and Gulfstream have a significant presence, which provides a lot of value to the area.
“This works alongside the growing digital and financial sectors due to the proximity to transport links and London.”
Tower Hamlets in East London was named the most financially productive area in the country with £71.90 GVA per hour.
This was down to its 19,000 registered businesses that cover a variety of industries from scientific and technical firms to management consultancies and retail ventures.
The two boroughs of Camden and the City of London combined for the number two spot, with £65.90 GVA per hour.