In recent years, Wales has embarked on a journey of transformation, seeking to redefine its identity. Home to a variety of beautiful countryside, quaint towns and villages, friendly seaside communities, and busy city centres, there is so much unlocked potential in Cymru and its three million people.
With Cardiff being the focal point of the country’s activity, blending culture, history, and modern innovation to attract those from all across Europe, there is often the tendency to overlook the rest of the nation. The likes of Swansea, Aberystwyth, Brecon and Anglesey all have so much untapped potential, as Wales navigates the challenges of a rapidly evolving global landscape in 2024.
Indeed, there are plenty of industries that had previously passed Wales by in terms of its development, but with the country striding forward on its journey of development, the notion of levelling up is really needed in order for the country to break into the modern era.
With that in mind, let’s explore some of the key industries garnering optimal potential for the development of Wales, and assess what kind of strategy the nation should adopt. Read on to find out more.
Financial Services
The rapid emergence of fintech, Wales has one of the most promising avenues for growth and innovation with its enterprise zones in Cardiff, however, there is a growing momentum to expand what is still a really emerging sector beyond the capital city.
With an optimal location – close enough to England that people will visit from abroad and stay for longer periods of time – both fintech and banking sectors will surely be attracted to the country’s scenic views whilst being in a big enough area for career progression.
In terms of property, the surrounding area has received over £15 billion in investment for MIPIM – the largest real estate exhibition in the world, selling the region’s competitive strengths on a global stage.
A number of UK regions and major cities will be in attendance, showcasing what a great place the area is to live in for outsiders through a series of events.
The £15 billion worth of investment opportunities include:
- Aberthaw Power Station eco-park
- Bridgend town centre
- The Northern Gateway initiative
- Blaenau Gwent Tech Valleys project
- Cardiff Parkway
- Caerphilly Hotel and Leisure Park
- St Modwen Park, Newport
Entertainment and Nightlife
Cardiff has all the potential to be a vibrant area for nightlife being just a stone’s throw from some of England’s biggest party cities like Bristol, and alongside its entertainment district, there is huge investment potential.
Alongside the standard bars and nightclubs, there are plenty of day events for those making weekend trips. Cardiff has brilliant architecture and castles but at night the city can transform into a social hub thanks to the Utilita Arena, which annually hosts PDC Darts as well as concerts.
There are also a variety of sports bars and casinos for those who enjoy betting. The industry has lots of money and the top casino bonus sites in the UK are always keen to get people through the doors at land-based venues. Most remain open until the early hours of the morning, offering punters the chance to visit after a night out.
Aberystwyth also has an enormous student population and despite many believing nightlife could fall into obscurity with so many nightclubs shutting their doors, Wales could leverage the chance to make a name for itself with the right funding and event management.
Sports
The recent Six Nations tournament has showcased how difficult this current Welsh side are finding rugby, and with the football team still yet to qualify for this summer’s European Championship, investing in better sports facilities can certainly go a long way to improving the country going forward.
Warren Gatland looks to remain as rugby coach up until the expiry of his contract in 2027, but long-term funding problems remain an issue despite an influx of cash at the turn of the new year. Next season playing budgets are set to drop from £5.2m to £4.5m, although the salary caps in rugby would allow for some marquee names to join, getting people through the gates at Ospreys and Scarlets as well as the Principality Stadium for international fixtures.
Investing in the Vale Resort facility as well as the grassroots game would provide a better chance of consistently competing and with the World Cup in England in 2025 there are plenty of opportunities to go and put the name on the map.
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Overall, the journey of levelling up for Wales requires a myriad of solutions. It certainly isn’t an overnight job and will have to be handled delicately due to how spread out the country is. Each region has its own quirks but wherever it is you end up, you are always likely to encounter friendly, patriotic, and kind people.