Regional Economic Development

ECONOMIC DEVELOPMENT OF WALES

BY

YOUR NAME Economic Development of Wales

Wales is a very small country located on the western side of the United Kingdom . It is well connected to England by road and rail network . The population of country is about 3 .5 million . People of Wales use two languages most commonly : Welsh as the first language while English comes next (Where is wales , 2000 . The economic development of the country is slowly making its mark on the world map with sincere and consistent efforts of the government of

nation . The economy has shown remarkable development over past few years . As acknowledged in the consultation document 2005 of The Welsh Assembly Government there are over 100 ,000 more people involved in the services as compared to the year 1999 . The unemployment rate of the country has also shown significant improvement The average earnings have shown a hike of more than 10 per cent in real terms since 1999 . The export sector of Wales has recorded outstanding growth as compared to the whole of UK . The mergers of the Welsh Development Agency , Wales Tourist Board and ELWa with the Welsh Assembly Government are destined to bring sustained economic prosperity to the country (Davies , 2005 . Graphs 1-4 show the developments made by Wales in recent years from 1999 to 2005

Graph1 (Wales : A Vibrant Economy , 2005

Graph 2 (Wales : A Vibrant Economy , 2005

Graph 3 (Wales : A Vibrant Economy , 2005

Graph 4 (Wales : A Vibrant Economy , 2005

The Welsh government is enthusiastic and committed to craft an active growing and consistent economy . Several policies are being shaped and implemented to realise this visualization . The main concern of the administration is to

Increase the employment rate and economic activity rate or in other words decrease the unemployment rate

Increase the number and quality of jobs

Create an environment that will attract people from different communities and age groups to participate in the economic development of the country (Wales : A Vibrant Economy , 2005

As with any country human resources are the major asset that when developed and handled strategically and with care can prove to be a huge bonus for the finances of the nation . The Welsh government aims at training the manpower of the country to nurture and harbour their innovative and brilliant capabilities so as to make them an active and dynamic part of the growth process . The people need to be familiar with new technological advancements in any field to be competitive on the global front . The government aims at creating a motivating and inspiring environment equipped with sophisticated technology and other modern resources in to ensure an excellent quality of life for the people (Wales : A Vibrant Economy , 2005

The government of Wales is well prepared and determined to take the following steps to boost up the development of the nation and to carve a niche on the international scenario

Aid the development and establishment of different businesses so that they can raise their productivity and create...