N.Wales has never lacked assets or ambition, but what is changing now is the scale of opportunity

Chief executive of the Development Bank of Wales, Giles Thorley, on the potential of the economy of north Wales

- Giles Thorley

Zip World has transformed the tourism sector in North Wales

(Main image: Zip World)

FROM large industrial estates to stunning coastlines, North Wales is a region of stark contrasts.

It combines some of the UK’s most significant industrial and energy assets but also rural and coastal communities and a fantastic tourism sector - communities that face very different economic realities.

That contrast is not a weakness. In fact, in many ways, it is one of the region’s defining strengths. But it does mean that growth, if it is to be sustained and inclusive, requires a more deliberate, place-based approach enabling businesses to invest, scale and compete.

Placing the HQ of the Development Bank of Wales in Wrexham was an acknowledgement that North Wales had historically been underrepresented but is a core strategic region. Not just because of its existing industrial base, but because of the scale of opportunity now emerging as major investment programmes move from planning into delivery.

The question is not whether North Wales can grow. It is how that growth is shaped, and who benefits from it.

Deep foundations

North Wales is often described as a single economic area, but in practice it is highly diverse.