Posted on Friday 6 July 2018 by Ulster Business
Belfast is now in the top 10 of the most important UK cities outside London, according to a new report.
TheCityUK’s Enabling Growth across the UK 2018 report says Northern Ireland has around 33,000 financial service posts. Most of those roles are within banking.
According to the report, Northern Ireland’s financial sector bucks the regional productivity trend, accounting for 4.6% of total employment but generating 5.1% of GVA – worth around £2bn annually.
Responding to the report, PwC Northern Ireland partner, Ian McConnell, said:
“London will remain a premier location, but Northern Ireland is steadily demonstrating its growing attractiveness as an investment location.
“And post-Bexit, Belfast will enjoy a unique position as part of the UK, but as geographically next-door to Ireland and the EU.
“Belfast’s advantages include the availability of skilled labour, proximity to London and Dublin, as well as world-class universities, where PwC has partnered with Queen’s University to sponsor a technology degree programme that will further advance the local technology and financial services sector.”
Outside banking, Belfast plays host to middle-office services for global giants including Citi.
And FinTrU, which now employs around 250 staff, just announced last month it will create more than 600 new posts, including a base in Londonderry.