Market Research in the United Kingdom
Market Research in the UK
The British economy consists of the economies of England, Scotland, Wales and Northern Ireland. It was once the largest economy in the world. Now, based on market exchange rates, UK is the sixth largest economy of the world and the third largest in Europe. The main part of gross domestic product consists of the UK service sector. The UK has one of the largest stocks of the world of both inward and outward foreign direct investment.
Influential Industries
A large industry in the UK is the pharmaceutical industry. This industry has an important part in the economy and the UK has a big share of global pharmaceutical R&D expenditures. Companies in the UK, next to companies in the US, have discovered and invented more leading medicines than any other country.
The automotive industry , with a turnover of about fifty billion pounds and twenty-five billion pounds of exports. Besides that UK has the second largest national aerospace industry of the world.
The UK has an intensive, efficient and highly mechanized agriculture by European standards. More than half of its food needs are being produced domestically, however, the percentage of the labor force is very small. Another big industry is the fishing industry and there are important natural resources such as coal, natural gas, petroleum, limestone, and a lot of arable land. The UK is furthermore a large consumer of energy and one of the largest producers of natural gas in the world.
Local Markets in Great Britain
Out of the four countries, England possesses the largest economy. The country is highly industrialized and is an important producer of chemical products and textiles. An important proportion of the country’s income comes from London. London is one of the largest financial centers, with insurance companies, banks, commodity and future exchanges all concentrated in the city. The financial services sector plays an important role in the economy of England.
Scotland’s economy mainly consists of heavy industry underpinned by shipbuilding, steel industries and coal mining. With many large finance firms based in Scotland, the financial services center of Scotland Edinburgh is the sixth largest financial center of Europe.
Wales now has a post-industrial economy. Earlier Wales had a dominant mining and coal industry but that has changed. The service sector now provides the majority of jobs.
The economy of Northern Ireland is the smallest economy of the four. The economy has benefited from major investments by large multinational corporations in the high-tech industry. These corporations are attracted by subsidies from the government and the skilled workforce in Northern Ireland.
About SIS
SIS International Research provides full-service solutions in Consumer, B2B, Industrial, Healthcare and other industries. SIS can help you to stay competitive by delivering full insight in the business landscape. SIS conducts Qualitative, Quantitative and Strategy Research. Our methods include:
- Focus Groups
- Customer Interviews
- Surveys
- Digital Communities
- Market Opportunity, Sizing & Entry Assessments
- Compettiive Analysis
We have extensive market coverage in Europe. Learn more about our coverage in London, Scotland and in Europe.
