Cambridge to lead UK’s economic recovery in 2022

  1. Home
  2.  » 
  3. News
  4.  » Cambridge to lead UK’s economic recovery in 2022

Cambridge will be home to one of the UK’s fastest rates of employment growth by the end of 2022.

A business report by national law firm Irwin Mitchell, predicts that Cambridge, Oxford and Milton Keynes are set to boost output by £1.8bn over the next 12 months.

Cambridge will see employment levels grow the third fastest over the next year, increasing year-on-year by 2.5% and adding almost 3,700 new filled positions.

The report says that Cambridge’s economy is boosted by its university and surrounding array of services and research-based firms.

It predicts that these factors will provide Cambridge, together with Oxford and Milton Keynes, with a year-on-year GVA growth of 3.3% by the end of 2022. This will result in a total of £1.8bn being added to their combined economic output.

Hannah Clipston, partner at Irwin Mitchell, said: “The UK’s economy has undergone significant change over the last two years and this report highlights that the post pandemic recovery is unlikely to be linear or even uniform.”

Irwin Mitchell’s report also examines to what extent disruption in the economy leads to innovation.

Contact Us

Latest News

Free Programme to Help Microbusinesses Thrive

Free Programme to Help Microbusinesses Thrive

ARU Peterborough experts are making a big difference to Britain’s smallest firms  ARU Peterborough business experts are playing a key role in a programme to support some of the UK’s 5.2 million microbusinesses by providing free advice to help them weather economic...

21toWatch Awards Highlight Innovation in Science and Tech

21toWatch Awards Highlight Innovation in Science and Tech

The CPCA Growth Hub were proud Sponsors of the much anticipated 21toWatch Awards hosted by Faye Holland at The Bradfield Centre in Cambridge. People, companies and the ‘things’ they create, across Cambridge and the East of England are setting the standards in...

21towatch List Announced

21towatch List Announced

Organised by leading tech and PR company, Cofinitive -21towatch is back! #21toWatch is a dedicated campaign to showcase and highlight the maybe lesser known, recognising those exciting new entries across all market sectors, and celebrating the very best work going on...