Bristol and Glasgow are set to become more important business hubs, according to a report by HSBC that corresponds with data from fDi Benchmark.
The two cities will effectively join what the bank has called the UK’s “super cities”, which include Newcastle, London, Leeds, Brighton and Liverpool. These cities are expected to innovate development in certain industries, such as renewable energy and manufacturing, the latter regardless of a recent report suggesting manufacturing was facing a serious decline.
In the report, Glasgow was cited for its potential as a leading international force in renewable energy, while Bristol was considered a future pioneer for the creation of new materials, which would therefore make it a centre for advanced manufacturing.
On Glasgow, HSBC said: “We anticipate that Glasgow will emerge as a new renewable energy super city. Despite only 22% of our survey group regarding the city as likely to grow over the next 10 years, Glasgow is set for a dynamic decade. The reason is more apparent locally than nationally. Four out of 10 Scottish respondents believe Scotland is the ideal location for low-carbon industries, compared with 11% overall.”
When it came to Bristol, the group found that 41% of business leaders expected the city’s role in advanced manufacturing to increase compared to just 15% who expect it to decline.
Figures from fDiBenchmark show that Bristol and Glasgow are indeed strong locations to foster growth in these sectors. In terms of cost and quality they have the best offering when both factors are combined. London is the best city in the UK in terms of quality, but its high costs put it at a disadvantage to other urban centres.
When these two factors are made sector specific, the two cities' positions are even better. Glasgow has the highest cost-quality rating in renewables, and Bristol also rates well.
Jacques Emmanuel Blanchet, head of HSBC commercial banking UK, commented on the cities: “They are key for British business development and specialise in different innovations and industries and are already being shaped by today’s new entrepreneurs.”