Samar Jeet’s Post

Both major parties are focusing on boosting economic growth in the lead up to the General Election. UK productivity growth has been slow since the Global Financial Crisis, with output per capita lagging behind top performing G7 countries like Germany and the USA by 15-20%. Labour productivity is crucial for attracting inward investment, increasing wages, and generating higher tax revenues for the Government to reinvest in critical services and infrastructure. The UK's low productivity is a key factor in our stalled growth and vulnerability to economic shocks compared to other global economies. The undersupply of housing has also contributed to this issue. A lack of new housing near employment centers limits workers' ability to access more productive jobs, hindering the potential benefits of agglomeration effects in cities. Read more:

GPR global news share through the lens of SMH. Where Sydney’s million new jobs are coming from and moving away from its depencay on fossil fuels. Five industries are poised to drive Sydney’s economic future, with new forecasts showing finance, biotech, digital-tech, advanced manufacturing and clean energy could add a million new jobs in the city by 2050. Sydney has consolidated its position as the largest economic engine in the country during the past decade and accounts for one-fifth of national economic activity, a new report by the Committee for Sydney think tank says

Are major cities driving regional inequality? 🏙 Our latest insights article takes a look at superstar cities, highlighting how London’s booming economy, soaring house prices, and the concentration of wealth are reshaping the UK 📈 Find out what these developments mean for recruiters and how you can leverage these trends to attract top talent beyond UK’s capital. 🔗 Read Julius Probst, PhD’s full article here:  https://lnkd.in/e7F6Zp6Z #LaborMarket #UrbanEconomy #RegionalInequality #TalentAttraction

Internal migration to regional areas of Queensland is on the rise! The improving economy, lifestyle, and affordability are attracting more people to move outside the southeast city trio. The chart shows the internal migration trends of 3 areas of Queensland: Greater Brisbane, Gold Coast and Sunshine Coast, and Regional QLD excl. GC and SC. According to recent data, the net internal migration into regional QLD (excl. GC&SC) was 272% higher in FY21/22 than it was 5 years ago. This growth more than doubled Greater Brisbane’s 131% improvement. Meanwhile, the Gold Coast and Sunshine Coast, both with robust economies and hot job markets, only achieved a 6% net internal migration growth over the same period. Affordability could be a contributing factor to their slower growth.

I'm looking forward to joining the Toronto Region Board of Trade for their Race for Space: Navigating Toronto's Employment Lands Crisis event on December 10th. The airport is at the centre of the Pearson Economic Zone - Canada's largest employment area by size and second by employment, with over 500,000 people working in a diverse array of sectors, including transportation, manufacturing, engineering and technology. With an international airport, two intermodal railyards, and intersecting 400 series highways, the Pearson Economic Zone is not only where products arrive but also where products are dreamed of, created and exported, as it hosts the largest concentration of manufacturing in North America. Representing 7% of Ontario's GDP, the Pearson Economic Zone is an economic flywheel that drives the national economy. Despite this, it's under threat as employment lands are increasingly being converted to residential uses. While there is no argument housing is needed, employment lands are also critical - as people need well-paying jobs to buy those homes - and employment areas like the Pearson Economic Zone host those jobs.

The burgeoning developments in Tier 2 cities are not merely reshaping skylines but rewriting the narrative of progress and prosperity. As these cities continue to evolve into vibrant hubs of economic activity and innovation, the dividends are evident – more job opportunities, enhanced access to quality education, and sustainable economic growth. Read more https://lnkd.in/d5P7feij #Tier2CitiesTransformation #EmploymentOpportunities #QualityEducation

Both major political parties are placing a strong emphasis on boosting economic growth in the lead up to the General Election. This focus is evident in both Labour's 5 missions and the Conservatives' 5 top priorities. The UK has experienced slow productivity growth since the Global Financial Crisis, with output per capita lagging behind top performing G7 countries like Germany and the USA by 15-20%. The importance of increasing labour productivity cannot be understated. It plays a crucial role in attracting inward investment, enabling higher wages, and generating higher tax revenues for the Government to invest in essential services and infrastructure. The UK's low labour productivity is a key factor behind our stagnant growth and vulnerability to economic shocks compared to other major global economies. The housing shortage in the UK has also contributed to this issue. The lack of new housing in areas with growing job opportunities hinders workers' ability to move to more productive roles. This, in turn, limits the potential benefits of the agglomeration effect in cities, where higher concentrations of firms and workers drive economic efficiencies. Read more:

Despite relatively low rates of population growth, the Adelaide economy is performing well in the context of the overall Australian economy. Tough business conditions are leading to increasing business insolvency rates all around the country, however, the Adelaide CBD and other inner areas present a low insolvency risk to commercial property investors. The Outer North region is likely to see continued growth in the retail and industrial markets to serve the growing population, which clearly outperforms other areas of Adelaide. Read more about the region’s employment, population and business conditions and how they impact Adelaide’s commercial property markets: https://bit.ly/AdelaideMM

A report published by Henley & Partners - The Firm of Global Citizens®, “World’s Wealthiest Cities Report 2024” provides an annual analysis of the top 50 cities globally by the number of millionaires, centi-millionaires, and billionaires. This comprehensive report tracks wealth trends and the migration of high-net-worth individuals (HNWIs), offering insights into the cities that are magnets for global wealth. #estateplanning #financialplanning #wealthtaxstrategiesjournal #practicemanagement

Our 12th annual Good Growth for Cities Index, published today, illustrates how our cities perform against 12 key indicators of economic performance across the UK - I was pleased to see, once again, that the Welsh cities are on a positive trajectory. Wales’ ability to develop and retain talent, and to attract investment from large businesses like ours, is key to its future success. The optimism that I hear in the market - and the positive signs that we see in reports like these - give me confidence that Wales’ economy has many of the conditions it’ll need to succeed. Mae’r dyfodol yn gyffroes iawn i Gymru. https://pwc.to/3XxtARz