Regeneration helping attract business and investment

PwC's 2024 Good Growth for Cities report says the combination of the regeneration with other projects means Swansea has a prosperous future in store.

Swansea Arena has opened, buildings like the Albert Hall and Palace Theatre are being restored, and major upgrades have happened on both Wind Street and The Kingsway to boost their look and feel.

A new office scheme at 71/72 Kingsway is also nearing completion and the private sector is leading on schemes like Princess Quarter, Kings Buildings and the living building development.

Lots more is on the way too, including a new hotel close to the arena, a revamp of Castle Square, a public sector hub as part of Copr Bay phase two, the redevelopment of the Civic Centre, and the Y Storfa community services hub at the former BHS unit on Oxford Street.

In the PwC report, it also says the number of businesses in Swansea has risen steadily over the last five years and that start-up business survival rates are keeping pace with the rest of Wales and the UK.

The report - using data that goes up to 2022 - says affordable office spaces, a high graduate retention rate and the effective rollout of government funding has helped start-up businesses survive and grow.

Current data shows Swansea has moved further ahead since that time.

The report is also regional and covers Swansea's travel-to-work areas too, helping to explain challenges like air quality which are highlighted.

Cllr Rob Stewart, Swansea Council Leader, said: "There have been a huge number of recent improvements made in Swansea, where a regeneration programme worth over £1bn is ongoing.

"Swansea is punching well above its weight and is seeing major public and private investment on a scale not seen in many decades. This means we soon expect to see economic growth significantly faster than the UK average.

"Swansea is also an affordable city that has two leading universities, high-performing schools , a stunning natural environment, a top-level events programme and a tourism industry that's worth over £600m a year to the local economy."