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Regional and Demographic ContextBroad St Reading

Reading sits at the heart of the Thames Valley, one of the most successful sub regions in Europe. The sub region has a population of 812,000, a working age population of 545,000 and one of the UK’s highest economic activity rates at 85%.  It is a magnet for inward investment, with 60% of all South East inward investment arriving in the area; the vast majority choosing to locate in Reading. It has one of the highest concentrations of ICT firms, confirming its status as Europe’s ‘Silicon Valley’; employment in ICT is some 300% above the national average.  It is home to 13 of the world’s top 30 global brands, with the likes of Vodafone,Verizon Business, Prudential, Wyeth, Microsoft and Cisco all based locally.

Reading context

Development in Reading is guided by the Council’s City 2020 vision and achieved through the involvement of key partners, local residents, businesses and other stakeholders: 

‘Our vision is to maintain and improve the quality of life in Reading, embracing the challenges of a dynamic, inclusive urban community of the 21st century. Everyone will have the opportunity to benefit from all that Reading can offer. Everyone has a part to play in shaping our future’

Even within the Thames Valley, one of the most buoyant areas in the UK, Reading’s performance is exceptional.  Research by ‘Centre for Cities’ shows that, based on employment, population growth and skills, Reading is England’s top performing ‘city’.  Moreover, Reading’s economy is expected to continue to grow by 3.5% year on year until 2026, putting it top of the ‘UK Cities’ list compiled by economic analysts, Experian, in January 2009.

Economic growth and success therefore looks set to continue, as reflected by Reading’s designation as a "Growth Point" and a "South-East ‘Diamond", and it is essential that this growth becomes more sustainable, both environmentally and socially. 

Whilst the tight boundary of Reading Borough is home to around 145,000, the wider urban area is home to a population of around 275,000 with a broader retail catchment of over 1.2m. This is a significant aspect of the Reading of today: a sub-regional capital attracting large numbers of workers, shoppers and visitors from a wide area, adding to its vitality and success.

With an annual GDP of over £450 billion the ‘Greater South East’ ranks as the 10th largest economy in the world, just behind Canada and just ahead of India.  It is within this international context that the economy of Reading operates and for the past decade Reading has been a magnet for growth and wealth creation, with economic success set to continue at a predicted rate of growth of 3.5% per annum to 2026. 

Reading and the Thames Valley economies are heavily influenced by the ‘Heathrow Phenomenon’ – the impact that the airport has in terms of providing international connections to global markets for businesses based locally cannot be underestimated.  The scale of global connectivity from Heathrow, when compared against its main European competitors is unrivalled.