Here are several facts about Devon to take note of:
- A growing economy, presently valued at over £23 billion. Growth of 19.1% over the last five years (UK average: 16.1%).
- A sizable, skilled labour force; in some regions, the percentage of the population with a degree or higher rises to 43%.
- High employment rates (78.3% vs. 74.5% for the UK as a whole).
- In terms of research and development, the South West has surpassed other regions of the UK. The number of issued patents in Devon is among the highest in the area.
- Strength in higher education: A significant amount of the scholarly work produced by our three top institutions is regarded as either world-leading or of the highest international calibre.
- Innovation and entrepreneurship: The number of patents issued per person in Devon is three times more than the UK average, and the state’s firm survival rate is nearly 5% higher than the national average.
- Devon is an excellent entryway to the UK, Europe, and beyond, thanks to its quick transportation connections, easy access to markets, and one of the UK’s fastest-growing airports.
- Lower overhead expenses – Devon’s labour prices are incredibly competitive, while office rentals, retail rents, and factory rates are all much lower.
- Outstanding standard of living rated as the greatest location to live in the UK.