[vc_row][vc_column width=”2/3″ css=”.vc_custom_1494847986039{border-right-width: 50px !important;border-left-width: 50px !important;padding-right: 50px !important;padding-left: 50px !important;}”][vc_column_text]There’s no doubt that the country of Wales has evolved at a marked rate over the course of the last 250 years, from a rudimentary agricultural nation to a thriving post-industrial economy.
Since the Second World War, Wales has developed a particularly lucrative service sector, and one that has encouraged a number of prominent and market leading brands to relocate there in recent times.
But what exactly drives the Welsh economy in the modern age, and how viable is this location from the perspective of outdoor advertisers?
Why Advertise on Billboards in Wales?
Wales remains a key part of the economic engine that drives the UK, while it’s also a deceptively large region with a total area of 20,779km2.
The region’s size and vast swathes of greenery helped to forge Wales’ reputation as an agricultural leader prior to the industrial revolution, but the economy evolved to become a key exporter of coal from the middle of the 19th century to the immediate postwar era.
At the peak of coal production in 1913, nearly 233,000 people were employed in the South Wales coalfield, which was known to mine 56 tons of coal every single year.
Of course, the service sector and manufacturing began to take hold after 1945, which trend prevalent throughout the UK as a whole (and particularly since joining the Common Market in 1973). As a result, financial service brands are now prolific employers in Wales, while manufacturing is the single biggest sector with a total turnover of £14.7 billion.
Overall, Wales top-300 employers (which include insurance brand Admiral and supermarket chain Iceland) generate an annual turnover in excess of £37.5 billion, while employing a young, mobile and increasingly affluent workforce that’s an ideal target market for advertisers.
Clearly, Wales also boasts a diverse economy, and one that creates variable target markets and opportunities for out-of-home (OOH) advertisers across the board.
Wales’ Population and Demographics
Wales’ population doubled in the 50 years between 1801 and 1851, from 587,000 to 1,163,000.
This number more than doubled again to 2,421,000 by 1911, while the last census of 2011 confirmed that Wales had an increasingly youthful population of 3,063,456.
The median age of people in Wales is 42.5 years, with this having fallen incrementally as the economy has evolved. So, while this median age is the highest of all four UK regions, the population becomes younger and more mobile with every passing year.
Advertisers should note that two-thirds of the total population live in South Wales, with major cities such as Cardiff, Swansea and Newport driving this trend. Interestingly, South East Wales has an incredibly high population density, with an estimated 545.5 people per square kilometre.
The bulk of financial services brands are based in this region too, making it home to the highest earning residents on average and a hotbed of consumer spending and activity.
While an estimated 19% of the population speak Welsh, 99% are fluent in English, enabling businesses to create seamless, single language campaigns that are cost-effective and accessible.
Why Outdoor Advertising in the East Midlands Can Be Beneficial
The Welsh economy has undergone a significant evolution since before the industrial revolution, with the nation now driven by tourism, financial services and manufacturing brands.
Of course, tourism also provides seasonal opportunities for local businesses to target customers through OOH, as many continue to flock to various coastal resorts during the summer and remain more than willing to spend their hard-earned cash.
With a growing number of residents in the North of Wales now commuting to work in cities such as Cardiff on a daily basis, advertisers can also leverage large-scale, roadside billboards that can target an engaged audience.[/vc_column_text][/vc_column][vc_column css_animation=”none” width=”1/3″][vc_widget_sidebar sidebar_id=”primary”][/vc_column][/vc_row]
