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Wales

Wales remains steady with a prosperity score of 0.20.

Measure

Results

Household wealth:

£214,200

GDP:

£18,002

Unemployment:

4.6%

Household expenditure:

£447 per week

House prices

£145,086

Exam achievements

57.6%

Hours worked:

33.3

Earnings:

£24,233

Business births/deaths

1.34

Insolvency rates:

18.9 per 10,000 population

Millionaire numbers:

12,500

Wales has kept its ranking year-on-year, staying in tenth place with a prosperity score of 0.20, down slightly from last year’s figure of 0.23.

Wales has seen one of the UK’s highest increases in GDP per capita, up 2.8% from last year. Only the North West saw higher growth at 3.0%. The region also had the most positive change in unemployment in the UK, which was down 1.4% year-on-year, bringing total unemployment in Wales down to 4.6%.

Household expenditure was up just 0.6% to £447 per week. Only the North East was lower, at £424 per week. House prices were up 4%, keeping Wales at seventh-highest in the UK, with average prices at £145,086, just above the North West at £144,695 and below the East Midlands at £170,509. Wales also jumped five places in education rankings and is now in sixth place for exam achievement.

While Wales remains at the bottom of the average earnings tables, earnings did see some growth at 3.4% to reach £24,233. This is the third-highest increase in the UK, behind only West Midlands (+3.9%) and Northern Ireland (+3.6%). Despite a 0.01% increase in the business birth-to-death ratio, Wales dropped one place to eleventh, with a ratio of 1.34 businesses created for every ‘death’.

Wales gained 1,000 new millionaires year-on-year, up to 12,500. This represents a 2.0% share of millionaires in the UK, the same as Northern Ireland and just above the North East’s 1.9% share.

UK Prosperity Map

An in-depth view of prosperity drivers across the UK

Scores per region, gleaned from official data – including GDP, employment, enterprise figures, household spending and number of millionaires.

About this research

The UK Prosperity Map is an annual piece of research compiled by Opinium on behalf of Barclays Wealth & Investments. It ranks UK regions and cities in terms of their affluence. A Prosperity Index score has been calculated by Opinium for each UK city and region. In addition, data provided by Wealth-X calculates UK millionaire numbers. The index uses third party figures on the factors listed below: