Despite Exeter’s resilience and growth in recent years Brexit is a cause for concern.
Exeter has very strong ties with the EU market, with 70% of current exports heading to EU countries. Research* suggests that as a result of Brexit, Exeter will be the most affected area in Devon & Somerset:
- A ‘soft’ Brexit will result in a reduction of 1.2% in gross value added
- A ‘hard’ Brexit a 2.4% reduction in gross value added.
Exeter’s success story
Exeter’s economy is growing and is part of the leading pack of cities who’s economies have grown by at least 20% since 2011 along with; Aldershot, Oxford, Cambridge and London.
Productivity per full time job in Exeter is roughly 30% higher than the Local Enterprise Partnership area average.
* conducted by the London School of Economics and the Centre for Cities