Economy
Situated in the heart of South East England in close proximity to London, Surrey has a dynamic economy and a population of 1.06 million, of which over half are economically active. The unemployment figure remains at 0.9%. The 2002 workplace based Annual Business Inquiry puts the total number of Surrey businesses at around 56,000.
In 2002 Surrey’s Gross Value Added (GVA) had grown to £16.5bn, equivalent to an annual growth rate of 3.8% since 1982. Output has grown steadily above the UK annual trend growth rate of 2.5%. In 2003, the single largest sector in output terms was business services, including activities such as professional services, IT services, and consultancy. The sector contributed £400m to output in Surrey, almost twice as much as the second largest producer in Surrey, the retail sector.
The skills and occupational attributes of Surrey’s local workforce are strong. There are high levels of entrepreneurship and above average percentages of the resident workforce are employed as managers and senior officials. The percentage of the population with degrees is high and education within the county is also highly rated, both the schools and the universities. Of particular importance to the business community is the varied graduate labour market, a significant amount of which has come from highly rated research departments within the county’s universities.
The main employment is concentrated in the central towns of Guildford and Woking, to the west in Camberley and Staines and to the East in Leatherhead, Dorking and Reigate. Employment levels are very high, although the county’s commercial premises have varying levels of occupancy.
More information on Surrey’s economy is available from Surrey County Council
Tourism
In 2003, Tourism was worth £1.85 billion to the Surrey economy with 2.8 million staying trips resulting in 9.7 million bed nights. These visitors generated £442.3 million of expenditure. In addition, day visitors spent £752.4 million through 22.2 million day trips.
Business tourism, short breaks and day visits to major attractions such as Thorpe Park and Chessington World of Adventures, are all important in Surrey. Occupancy levels are generally high, driven predominately by business visits and the influence of Gatwick and Heathrow Airports.
Surrey is served by two of the world’s largest international airports, Gatwick and Heathrow. Most major towns in Surrey have connections by rail to central London with a frequency of half an hour or less. Surrey also benefits from a comprehensive road network including the M25, M3 and M23. Proximity to Europe is also clearly a factor in the decision of a number of international companies to locate in the county.
There is a concentration of high quality gardens, historic houses and heritage attractions across the county. Surrey is England’s most wooded county and over 70% of its land lies within the greenbelt. The rural areas of the sub-region offer excellent opportunities for outdoor activities and countryside based leisure tourism.
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