Reading predicted to be one of the UK’s fastest growing towns

RDNG AERIALVIEW45 090615The Thames Valley is set to be one of the strongest performing regions over the next three years, with Reading predicted to grow by 2.2% in Gross Value Added (GVA), which is higher than the South East region average of 1.9%, according to EY’s Regional Economic Forecast 2020.

Richard Baker, EY managing partner for the Thames Valley and South comments: “The strength of predicted increases in GVA for Reading, Slough, Windsor & Maidenhead and Guildford, all of which exceed that of the major cities and London, means the Thames Valley is bucking the trend of the more dominant larger cities sucking the growth out of towns. It also shows that the Thames Valley has much more opportunity for broader growth.”

The report found that during the period 1997-2019, GVA in the Thames Valley grew at a higher rate than the rest of the England, 2.4% and 2.1% respectively. Reading was the strongest performing town in the Thames Valley during this time with 3.4% GVA growth.

Across the Thames Valley, the top three sectors set to have the strongest GVA growth are Professional, Scientific and Technical (3.4%), Information & Communication (3%) and Real Estate Activities (2.9%), which remains unchanged from the previous three years.  In the period 2020 to 2023, employment growth in Reading s forecast to grow by 1.1% (2020-2023).


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