Page 11 - Regional Employment & Skills Plan

Regional SWOT Analysis
Quality of life & good life expectancy, An improving broadband network, Heritage & culture,
Tourism,
Natural Resources,
Strong culture of entrepreneurship,
Diverse mix of urban & rural geographies, Home to 3 HE Institutions,
Existing regional collaboration,
Long established anchor & regionally important companies,
Cross-sectoral learning providers,
Technical resources,
Low wages - attracts inward investment,
Low cost of living.
Weaknesses
Innovation,
The natural environment & landscape,
Strengthen Local Growth Zones as strategic hubs, Developing links into enterprise zones, Knowledge economy roles,
Haven Enterprise Zone,
Swansea Bay Tidal Lagoon,
Swansea City Centre regeneration,
Yr Egin,
New campus developments,
A higher zone status for the Severn Valley, Developing East-West economic links through
the Marches LEP,
G-Fast test-bed,
ARCH- The Wellness Centre,
Apprenticeship levy.
Threats
Strengths
Lower qualified workforce,
Ageing workforce,
Low GVA,
Below average productivity & household income, Lower proportion of those employed in professional & managerial occupations,
Rurality & access to services,
Access to market,
Poor transportation links,
Bridging the skills gap between new industry requirements & traditional occupational areas swiftly enough,
Poor network coverage in rural areas, Low population density in rural areas, Underemployment.
Opportunities
Global economic uncertainty,
Lack of investment in infrastructure,
Disconnect between the education
system & employers,
Lack of affordable housing,
Withdrawal & centralisation of services,
Changing political landscape,
Cuts to funding,
Reduction in public sector employment,
National living wage,
Global competitiveness ,
Brain drain - Loss of talented and skilled individuals, Potential effect of the EU Referendum on workforce availability & movement,
Poor level of essential skills,
Apprenticeship levy.
11
The SWOT2 analysis depicted adjacent details the strengths, weaknesses, opportunities and threats for the region.
2.2 Demographic and Societal Changes
Population changes will have a significant impact upon the regional workforce and the economic activity of the region. Overall global populations are rapidly expanding with the population doubling to over 7 billion within 50 years and a further 2 billion will be added to the population in the next 40 years3. Population growth has in recent times been led by emerging nations, however, the effects of migration may have an impact upon the population growth within the region.4 5
1 RLSP analysis. 2 RLSP analysis
3 The Future’ – Steria
4 http://rlp.infobasecymru.net/IAS/themes/people/populationdata/tabular?viewId=1158&geoId=1&subsetId=42
5 http://rlp.infobasecymru.net/IAS/themes/people/ethnicityandmigration/tabular?viewId=547&geoId=1&subsetId=42
Regional Employment & Skills Plan South West & Mid Wales Policy Context