Reading was ranked the second most prosperous city in the UK in the Barclays UK Prosperity Map.
Reading is the second most prosperous city in the UK, after London, with average earnings of £30,562 and a high business birth-to-death ratio at 1.61, just behind that of London at 1.69.
The Barclays UK Prosperity Map is new research that uses factors including average annual pay, business survival rates, the percentage of households giving to charity and exam scores to generate a unique ‘Prosperity Index Score’ for each UK region. These factors are designed to provide a deeper view of regional financial health than single measures of wealth such as assets, investments and the location of luxury services, and make it possible to predict the UK’s next most prosperous areas.
Robin Reynolds, Regional Director, the South East, Barclays Wealth and Investment Management, said: “Reading is a great place to be doing business in at the moment. The city has built itself a strong and varied business ecosystem which is continuing to grow and drive high levels of wealth, employment and prosperity that we are seeing being replicated across the entire South East region. Transport links are also important to acknowledge. Located only 25 minutes from London, close to Heathrow, and soon to be a part of Cross Rail, Reading is increasingly becoming an accessible, exciting and thriving city to be situated in.”
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