Prosperity in Wales rises thanks to year-on-year growth in GDP and household wealth.
Wales saw a boost in GDP per capita of 9.7% since our 2015 study, placing it above London, Yorkshire and Humberside, the North East and the North West. Household wealth also helped to increase prosperity with a 3% year-on-year rise to an average of £214,200, placing it fifth overall in the ranking.
Wales’ small businesses have increased their turnover by 2%, and Cardiff led the way with a 12% increase, the third fastest growth after Bournemouth (19%) and Manchester (15%) and outpacing London (7%).
Wales was one of only five regions where the number of millionaires remained static at 12,000 as reported in 2015. The majority of UK regions had a slight reduction in the number of millionaires.