Immigration to UK is something, which much attracts the migrants from across the globe even as the flourishing national economy of the UK has played a rather key role in attracting and inspiring the visitors. The UK is the world’s 6th largest and the 3rd largest economy of Europe.
According to a survey conducted in 2013, the UK holds the 4th position in exports and is the 6th largest importer. In addition, the Great Britain has shown an upward graph in foreign direct investments as 3rd and outward direct investment as the 2nd largest. All this gives the nation an important place in global economies, and adds to its worldwide appeal as a top immigration hotspot.
The UK economy is dominated by the service sector. London, the capital of UK, is one of the largest financial centres of the world. London adds on the most to the economy of Great Britain whereas Wales’s contribution is the least. On an average, a person in London adds 37,232 pound as compared to the person in Wales who adds on 15,401 pounds to the national economy. The UK thriving Aerospace industry employs around 113,000 people directly, whereas 276,000 people are employed indirectly with the turnover of 20 billion pound annually. Its remarkable contribution to the aircraft’s history is significant.
Another industry, which contributes to the UK economy, is its pharmaceutical industry. Highly skilled workers, those involved with bioscience, thanks to the favorable environment of pharmaceutical industry have played a key role in the growth of UK economy, via creating ample jobs for the residents and continuously making available the effective new medicines to reach the patient at the earliest.
The UK government is trying to bring high speed broadband facilities, which will help its businesses, become more competitive in the global market. This will not only help in creating more jobs but will also fuel economy growth. The main aim of the government is to provide the benefit of high-speed broadband facility to maximum homes and businesses in the country so that more and more job opportunities can be generated along with the other online facilities. These minor changes will help in attaining the position of digital economy, or so it is believed.
With the aim of success in the global economy, the government is taking the needed action for its economic growth, and at the same time, helping aspiring hard workers. Keeping this in mind, the government is investing 5 million pounds in infrastructure by the year 2015. It aims at planning, repairing, and renewing of UK’s infrastructure with the aim of attracting outside investments.
With so much of addition to the national economy of the UK, they have set up lending schemes by offering attractive incentives, which motivates banks and societies to lend more. With the aim of helping and supporting smaller business sectors across the country, the government is investing 1 billion pounds in business banks.
Another vital point of this digital economy is that, it supports businesses growth and investment by cutting the corporation tax from 28% to 23% which will further fall down to 20% by the next year. In addition to all these, it is also providing funds for free schools, studio school and university technical colleges.
