The Solent economy has a population of 1.24 million, 42,000 businesses, GVA of £31 billion, and is part of wider South East economy valued at £240 billion GVA. It has a range of assets that are globally renowned, a strong SME and skills base, and a thriving research community through its universities and research institutions. The area is strategically positioned in relation to London, mainland Europe, and just 20 nautical miles from the key Shanghai to Rotterdam shipping superhighway. Currently the Port of Southampton alone handles exports worth more than £40 billion, making it the number one port for exports in the UK.
For more information on how we will work to increase productivity in the Solent please read our Productivity and Growth Supplement, in order to support the development of this piece of work, Solent LEP commissioned Oxford Economics to independently outline the area’s recent economic performance, as well as provide latest forecasts for the LEP area over the next 20 years. The updated economic modelling and forecasts report is also now available here.