Major investments by both Swansea University and University of Wales Trinity St David are advancing Swansea’s position as a city of innovation. Once reliant on heavy industries, Swansea’s economy is incredibly diverse with particular specialities in the service sector (professional and financial services, tech and communications, life sciences, marine industries, creative industries, health and education). The Driver and Vehicle Licensing agency employs 6,000 people alone in the city.
With 21,000 students, property investment into HMO and other student tailored properties are booming in the city. With consistent demand year on year and relatively higher rental prices many landlords have converted their portfolio to meet the needs of the student boom in Swansea.
Whilst much of the regeneration is being fuelled by world class Universities, other public-private partnerships such as the Maritime Quarter and Swansea Marina have given a modern revamp to a thriving city. As we look into the future there are numerous regeneration projects waiting for the green light. One being the development of a tidal lagoon in Swansea Bay, to generate power and provide 10,000 homes. This could bring £1 billion investment into Swansea having massive rippling impacts within the economy.